In each nation, in the following table, specializes in producing the good for which it has a comparative advantage, then
| COUNTRY | POTATOES | WHEAT |
| United States | 4 | 2 |
| Ireland | 3 | 1 |
Ireland would produce potatoes
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The baby boom of the post–World War II period had the greatest impact on the size of the U.S. labor force in _____
a. the 1980s b. the 1970s c. the 1960s d. the 1950s e. the late 1940s
In the short-run macro model, if GDP = $5 trillion and aggregate expenditure = $4.6 trillion, we would expect
a. prices to fall until the additional $0.4 trillion of output was sold b. prices to rise c. output to rise because businesses anticipate that buyers will spend more in the future to compensate for weak spending in this period d. inventories to rise by $0.4 trillion e. inventories to shrink by $0.4 trillion
The government, concerned about the wealth redistribution problem caused by the inequality of debt holdings, intervenes by
a. making a special effort to sell bonds to corporations b. creating a proportional income tax system c. sometimes instructing commercial banks to divest some of their bond holdings d. prohibiting the sale of bonds to the Federal Reserve e. limiting the purchase of bonds by foreigners
Saving done for the purpose of leaving an inheritance is called ________ saving.
A. public B. bequest C. life-cycle D. precautionary