Economist Jan Tinbergen developed a formula, called ______, to predict which nations would engage in bilateral trade.
a. the trade deficit equation
b. the index of equality
c. the Tinbergen ratio
d. the gravity equation of trade
Ans: d. the gravity equation of trade
You might also like to view...
The Federal Reserve uses dynamic open market operations to
A) alter the money multiplier. B) alter the growth path of bank reserves. C) inject reserves temporarily into the system. D) take reserves temporarily from the system.
A linear total cost curve which passes through the origin implies that
a. average cost is constant and marginal cost is variable. b. average cost is variable and marginal cost is constant. c. average and marginal costs are constant and equal. d. need more information to answer question.
An example of a nonrenewable resource would be:
A. a computer. B. wireless technology. C. sunlight. D. None of these is considered a nonrenewable resource.
You decide to lend $100 to a friend interest free for one year. You calculate that you could have earned 10% interest. What is the opportunity cost of the loan if it is paid on time?
A. $100 B. $10 C. $0 D. $110