Real GDP measures the ________ of production.
A. change in the volume
B. current dollar value
C. current market value
D. physical volume
Answer: D
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Silver is an example of a
A) commodity money. B) fiat money. C) barter money. D) representative money.
Studies of U.S.-Canadian free trade have concluded that free trade produced what effect on Canadian firms?
a. increased productivity b. decreased productivity c. no change in productivity d. could not be determined
The likely effect of a contractionary monetary policy in Japan would be to:
A. decrease the value of the dollar and increase the U.S. trade deficit. B. increase the value of the dollar and decrease the U.S. trade deficit. C. increase the value of the dollar and the U.S. trade deficit. D. decrease the value of the dollar and the U.S. trade deficit.
Frederic Bastiat formulated
A. the theory of absolute advantage. B. the theory of comparative advantage. C. the petition of the candlemakers to shut out the sun. D. the infant industry argument.