Because the gains from trade are so large, no one really loses from the expansion of global trade in the short run or the long run.
Answer the following statement true (T) or false (F)
False
Especially in the short run, some who compete with foreign producers may lose, though consumers and other producers will gain.
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A normal good is defined by economists to be a good:
a. with a negatively-sloped demand curve. b. that is purchased by at least 75 percent of the population. c. that is bought by consumers with normal tastes. d. whose demand increases when incomes increase. e. whose demand decreases when incomes increase.
When the Fed sells government bonds, the reserves of the banking system
a. increase, so the money supply increases. b. increase, so the money supply decreases. c. decrease, so the money supply increases. d. decrease, so the money supply decreases.
If the United States were to pass legislation that would make it easier for people to emigrate to the United States, this would cause
A. the short-run aggregate supply curve to shift to the left. B. the short-run aggregate supply curve to become flatter. C. the short-run aggregate supply curve to become nearly vertical at all levels of output. D. the short-run aggregate supply curve to shift to the right.
The above table gives data for the nation of Sueland. What is the private sector balance?
A) $11 billion B) -$11 billion C) -$43 billion D) $43 billion