Engaging in international trade has all of the following effects except:
A. altering prices in different countries.
B. it makes use of resources less efficient.
C. influencing labor markets in different countries.
D. increasing number of goods and services we can consumer in different countries.
Answer: B
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Refer to above figure. In the absence of trade, how many Widgets does this country produce?
What will be an ideal response?
In recent years, the largest trading partners of the United States have been
a. Germany, France, Spain, and the United Kingdom. b. Canada, Mexico, China, and Japan. c. Canada, Brazil, Argentina, and Chile. d. Russia, Venezuela, Saudi Arabia, and Indonesia.
Average total cost is ______.
a. how much it costs to produce one unit of output b. the mean sum needed to buy one unit of output c. the variable input costs that change with output d. the cost changes resulting from a change in output
According to the Taylor rule, if the inflation rate is one percentage point below the target of 2%, then the Fed should:
A. Raise the real federal funds rate by one percentage point B. Lower the real federal funds rate by one percentage point C. Raise the real federal funds rate by half of a percentage point D. Lower the real federal funds rate by half of a percentage point