In the 1980s and 1990s, Chile adopted capital controls that limited the ability of its citizens to buy or sell assets abroad. This action:
A. limited only capital account convertibility.
B. limited both current and capital account convertibility.
C. introduced full convertibility.
D. limited only current account convertibility.
Answer: A
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Which of the following indicates that the U.S. economy has become more stable since 1950?
A) less severe fluctuations in real GDP B) longer recessions C) shorter expansions D) All of the above indicate that the U.S. economy has become more stable since 1950.
Which of the following is true of a production possibilities curve?
What will be an ideal response?
Type I error is:
a. the statistical notion of accepting a false hypothesis. b. when a harmful drug is allowed into the market. c. difficult to detect and virtually ignored by the FDA. d. when a beneficial drug is blocked from entering a market.
Compared with constant cost production, if production occurs under increasing cost conditions, it is MORE likely that countries will:
a. completely specialize. b. incompletely specialize. c. not engage in international trade. d. trade with one another.