Which of the following is most likely to restore an economy to full employment, if it is operating below full employment due to a decrease in net exports?
A) Devaluation of the domestic currency
B) A decrease in the demand for goods and services in the economy
C) A decrease in investment in the economy
D) An increase in the interest rate
A
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Scarcity is a(n):
a. problem only in industrialized economies. b. condition measured by the quantity of goods available. c. subjective concept that human wants can never be satisfied. d. problem only in poor economies.
The international trade of goods within the same industry is called
a. inter-industry trade. b. intra-industry trade. c. splitting up the value chain. c. splitting up the supply chain.
Wide price swings in farm products are the result of
A. Supply shifts and the relatively elastic demand for food. B. Supply shifts and the relatively inelastic demand for food. C. The high income elasticity of food demand. D. Demand shifts and the relatively elastic supply of food.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.