The HeckscherOhlin model assumes that factors of production can move freely _______, but cannot move _______.
a. domestically; internationally
b. after they are fully trained; before the training period is over
c. internationally; domestically
d. within unskilled occupations; into highskill jobs
Ans: a. domestically; internationally
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Which of the following taxes is least likely to be shifted?
A. A federal excise tax on grapefruit B. A sales tax on some foodstuff C. A personal income tax D. A state tax on football tickets
Nonfinancial businesses may acquire funds by borrowing from a commercial bank or by ________
A) purchasing short-term assets B) issuing securities C) issuing insurance policies D) trading on an exchange
Suppose the real exchange rate of 10 Mexican pesos to the dollar changes to 9 pesos to the dollar. In this situation, the dollar has __________________, making American goods __________ expensive for Mexicans
A) appreciated; less B) appreciated; more C) depreciated; less D) depreciated; more
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. unemployment. B. expansionary gaps. C. recessionary gaps. D. exogenous spending.