Countries gain from specializing in producing goods in which they have ________ and trading for goods in which other countries have ________
A) a comparative advantage; an absolute advantage
B) an absolute advantage; an absolute advantage
C) an absolute advantage; a comparative advantage
D) a comparative advantage; a comparative advantage
D
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The variable measured on the y-axis increases whenever the variable measured on the x-axis increases. As a result, the relationship between the variables will
A) be negatively sloped. B) have a slope of zero. C) be a vertical line. D) be none of the above.
A rapidly falling stock price would most likely trigger all of the following except:
A. a flood of margin calls. B. massive sales of the stock. C. the price to be pushed down even more. D. a massive amount of purchases.
Given a demand curve, explain how total revenue may be calculated
Contractionary policies are government stabilization policies intended to decrease:
A. unemployment. B. planned spending. C. population. D. average labor productivity.