Refer to the information provided in Figure 20.2 below to answer the question(s) that follow.
Figure 20.2Refer to Figure 20.2. England has
A. an absolute advantage in producing cars.
B. no comparative advantage in producing either cars or trucks.
C. a comparative advantage in producing trucks.
D. a comparative advantage in producing cars.
Answer: C
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
The deposit expansion multiplier would decrease if the Fed were to
A) raise the required reserve ratio. B) lower the required reserve ratio. C) lower the discount rate. D) buy bonds.
If Option A costs $40 and yields 20 units of output and Option B costs $50 and yields 30 units of output,
A) Option B and Option A are equally economically efficient. B) Option B is economically efficient relative to Option A. C) Option A is economically efficient relative to Option B. D) It is not possible to determine which option is more economically efficient.
New residential housing is counted in GDP as a(n):
a. durable consumption good. b. household durable good. c. investment good. d. inventory expansion. e. long-term durable good.