In the early 1950s the two new factors that stimulated the United States' economy were ___________ and ____________.
Fill in the blank(s) with the appropriate word(s).
the Korean War; the advent of television
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Nontariff measures are generally much more difficult to eliminate than tariffs and quotas because they are embedded more deeply in national economic policies
Indicate whether the statement is true or false
A factor of production that cannot be used outside of a particular sector of an economy is a(an)
A) specific factor. B) mobile factor. C) variable factor. D) import-competing factor. E) export-competing factor.
Positive supply shocks can have a tendency to ________ costs of production and ________ the inflation rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
A country with a strong bargaining power is likely to direct the terms of trade in its favor
a. True b. False Indicate whether the statement is true or false