Import restriction in advanced economies deny developing economies access to the food market of the advanced economies. The result is ________ price and ________ farm production in the developing economies
A) lower; larger
B) lower; smaller
C) higher; smaller
D) higher; larger
E) stable; smaller
B
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"Demand" refers to the relationship between the price of a good and the quantity consumers are willing and able to buy at each price
Indicate whether the statement is true or false
Transfer payments provide benefits to
a. all those in need b. those who have paid into governmental funds through their workplace c. those who are eligible recipients d. those who provide some service to the government e. anyone transferring from one stage of their life to another
The downside (negative aspect) associated with a free and floating exchange rates is that
a. countries appreciate their rates so that the float is only upward b. they depend on trade agreements that can, and have been, broken c. whether they increase or decrease, it takes currency to float the rate d. arbitrage takes advantage of different opportunity costs e. it creates an uncertainty about future rates that can reduce trade
According to the classical economists, if the amounts of money people are planning to invest is greater than the amount that people want to save,
A. interest rates will rise and savings will rise. B. interest rates will fall and savings will fall. C. interest rates will fall and savings will rise. D. interest rates will rise and savings will fall.