Trade between nations is based on absolute advantage, which occurs when a country has a lower opportunity cost of producing a good
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is false?
a. The Fed controls the supply of money, even though privately owned commercial banks actually create and destroy money by making loans. b. With a 10% required reserve ratio, a $10,000 cash deposit in a bank would result in an increase in the bank's excess reserves by $1000. c. With a 10% required reserve ratio, a $1,000 bond purchase by the Fed directly creates $1,000 in money in the form of bank deposits, and indirectly permits up to $9,000 in additional money to be created through the multiple expansion in bank deposits. d. When the Fed sells government bonds, it will tend to cause a multiple contraction of bank deposits.
The International Court of Justice (ICJ) is the primary international court, also referred to unofficially as
a. Nuremburg. b. the International Criminal Court. c. the Dispute Settlement Body. d. the World Court.
A mismatch between the geographic location of workers and the location of job openings would result in what type of unemployment?
a. Cyclical b. Frictional c. Structural d. Wait
A. ended with the passage of the Freedom to Farm Act of 1996. B. began with the Grain Planting Act of 1914. C. remains the core of U.S. farm policy. D. was restored in full and expanded by the Food, Conservation, and Energy Act of 2008
A. ended 60 years of U.S. price supports for American grain crops. B. restored the U.S. price support system (for currently grown crops) that was ended in the Freedom to Farm Act of 1996. C. ended the "freedom to plant" approach of the Freedom to Farm Act of 1996 and restored acreage allotments. D. maintained the "freedom to plant" and "direct-payment" features of the Freedom to Farm Act of 1996, and also provides countercyclical payments and marketing loans to assist farmers.