When a country takes a unilateral approach to free trade, it
a. removes trade restrictions on its own.
b. reduces its trade restrictions while other countries do the same.
c. does not remove trade restrictions no matter what other countries do.
d. is willing to trade with multiple countries at once.
a
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What aspects of a game are specified by "the rules of the game"?
A) timing of players' moves B) payoffs C) information available to each player D) All of the above
Advertising:
A. can convey useful information to consumers. B. can cause perceived differences that don't exist and drive prices up. C. can increase competition in the marketplace and lower prices. D. All of these statements are true.
A standard of deferred payment is most essential in a
a. barter economy. b. cash-only economy. c. credit economy. d. primitive economy.
For this question, assume that individuals do not hold currency (i.e., c = 0). The money multiplier is equal to
A) 1/(1-c). B) 1/[c + ?(1 - c)]. C) [c + ?(1 - c)]. D) 1/?. E) none of the above