A large amount of intra-industry trade is not compatible with the comparative-advantage theory of trade.
Answer the following statement true (T) or false (F)
True
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For the economy as a whole,
a. income must be greater than expenditure. b. unemployment must rise when GDP rises. c. expenditure must equal income. d. consumption must be greater than investment.
When the consumer price index increases, the value of your money has _____. According to the quantity theory of money this is caused by an increase in the _____
Fill in the blank(s) with correct word
The source of hyperinflations is primarily
a. lower output growth. b. continuing declines in velocity. c. increases in money-supply growth. d. continuing increases in money demand.
Which of the following best expresses the law of demand?
a. An increase in price results from an increase in demand for a good of limited supply. b. The increase in the quantity of a good available when its price increases. c. A decrease in price can be expected as more units of a product are demanded. d. The inverse relationship between the price of a good and the quantity demanded.