The largest overall recipients of remittances are:
A. Chile and Mexico, which each get more than $50 billion per year.
B. China and India, which each get more than $5 billion per year.
C. China and India, which each get more than $50 billion per year.
D. Chile and Mexico, which each get more than $5 billion per year.
C. China and India, which each get more than $50 billion per year.
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Economists believe that people are:
A. always risk-seekers. B. always risk-averse. C. generally risk-averse. D. generally risk-seekers.
A nation has a comparative advantage over a trading partner in the production of good A if it
A. produces good A at a lower opportunity cost per unit than its trading partner. B. can produce good A with the same resources as its trading partner but in less time. C. can match its trading partner's output of good A and have resources left over. D. has an absolute advantage over its trading partner.
Citizens can consume more of everything in a(n)
A. open economy. B. closed economy. C. economy with many citizens. D. autarky.
Mary takes out a fixed interest rate loan and then inflation rises more than expected. The real interest rate she pays is
A. higher than she'd expected, and the real value of the loan rises. B. higher than she'd expected, and the real value of the loan falls. C. lower than she'd expected, and the real value of the loan rises. D. lower then she'd expected, and the real value of the loan falls.