An economy that is an active participant in international trade is
A) an egalitarian economy.
B) a closed economy.
C) an economy whose currency value fluctuates widely.
D) an open economy.
D
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In a perfectly competitive industry, which of the following is true?
a. The competitive price is higher and quantity higher than the socially efficient point. b. The competitive price is higher and quantity lower than the socially efficient point. c. Since the industry is perfectly competitive, price and quantity are at the socially efficient levels. d. The competitive price is lower and quantity higher than the socially efficient point.
The relative prices of wool, cocoa, aluminum, rice, cotton, and sugar declined by more than half during the 20th century.
Answer the following statement true (T) or false (F)
Answer the following statement true (T) or false (F)
1) Producing a good in the least costly way is known as allocative efficiency. 2) A market that achieves productive efficiency is producing the quantity of goods most desired by society. 3) A market that is achieving allocative efficiency must also be achieving productive efficiency. 4) A government tax per unit of output reduces supply.
If the World Bank makes loans to nations that can attract private funds
A. the presence of the World Bank's loans will lead to even more private funds being attracted to that country. B. the World Bank's loans will lead to even more private loans made to developing nations. C. the increase in growth in that nation will spill over to other nations that are developing. D. these loans will interfere in the private market for capital goods and can lead to inefficient investment.