If this is a closed economy, how much will a bushel of corn cost?
A. $7
B. $5
C. $1
D. $3
Answer: D
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Leontief's results can be interpreted as
A) evidence against the classical model. B) evidence against the Heckscher-Ohlin model. C) support for the classical model. D) support for the Heckscher-Ohlin model.
Which of the following is not primarily a function of the federal government
a. national security b. higher education c. economic stability d. market competition e. all of the above are functions of the federal government
Banks generally keep most of their assets in the form of ______.
a. cash assets b. reserves held at the Fed c. loans d. secondary reserves
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD1 the result in the long run would be:
A. P4 and Y1. B. P4 and Y2. C. P5 and Y1. D. P5 and Y2.