Which of the following does free trade encourage?
A) higher rates of economic growth B) more rapid spread of technology
C) domestic industries' access to larger markets D) all of the above
D
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A supply shock is an ________ event that shifts the aggregate ________ curve
A) external; supply B) external; demand C) internal; demand D) internal; supply
In the recent Global Economic Crisis, the negative wealth effect caused
A) LM curve to shift to the right. B) LM curve to shift to the left. C) IS curve to shift to the left. D) LM curve to shift to the right.
In late 2008, the average risk premium rose because
A) investors feared a revival of inflation. B) large tax increases in the United States reduced corporate profits and led to fears of increased defaults. C) of the financial crisis. D) of fraud in the market for municipal bonds.
From 1979-2007, labor income for U.S. households became more evenly distributed.
Answer the following statement true (T) or false (F)