The gravity model explains why
A) trade between Sweden and Germany exceeds that between Sweden and Spain.
B) countries with oil reserves tend to export oil.
C) capital rich countries export capital intensive products.
D) intra-industry trade is relatively more important than other forms of trade between neighboring countries.
E) European countries rely most often on natural resources.
A
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In periods when prices are falling, on average,
A) real GDP will grow as fast as nominal GDP. B) real GDP will grow slower than nominal GDP. C) real GDP will grow faster than nominal GDP. D) one cannot calculate real GDP.
Taylor has the following assets and liabilities:Two cars$15,000House$400,000Mortgage$300,000Cash$1,000Car loans$5,000Checking account balance$3,000Credit card balance$3,000 Suppose that Taylor receives a $10,000 bonus from her employer. If she puts that money toward her mortgage, her wealth would ________; if she puts that money in her checking account, her wealth would ________.
A. increase to $115,000; increase to $115,000 B. increase to $121,000; increase to $121,000 C. increase to $121,000; decrease to $101,000 D. increase to $115,000; decrease to $95,000
The recent regulation that was designed to limit risk-taking by banks by requiring them to report their holdings is called the:
A. Dodd-Frank Wall Street Reform and Consumer Protection Act. B. Troubled Asset Relief Program. C. Federal Deposit Insurance Act. D. Glass-Steagall Act.
By using the same ceteris paribus assumptions, economic principles are just as certain and precise as those of the laboratory sciences.
Answer the following statement true (T) or false (F)