The U.S. Constitution
a. prohibits tariffs on trade between Arkansas and New York but allows tariffs on trade between Hawaii and Alaska.
b. prohibits tariffs on all trade.
c. allows tariffs on trade with other countries, but not on trade between the states.
d. allows tariffs only on goods purchased from the communist nations.
c
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Suppose the majority of the shares of British Airways stock were sold to a firm in the United States. Assuming all else remains constant, this will
A) decrease the balance of the U.S. financial account. B) create a capital inflow in the United States. C) decrease foreign direct investment in the United States. D) increase net portfolio investment in the United States. E) decrease the balance of the U.S. current account.
When the Fed injected newly made money into the economy by buying bonds, it:
A. was practicing quantitative easing. B. was trying to avoid a deflationary period similar to Japan. C. inserted over $1 trillion of new money into the economy. D. All of these statements are true.
Countries tend to export different goods and services because of:
a. differences in their comparative advantages. b. differences in tastes and technological needs. c. differences in income. d. similarities in resource endowment. e. differences in the exchange rates.
When the supply and demand of currencies in the foreign exchange market determines their relative values, this is known as
A. fixed exchange rates. B. flexible exchange rates. C. appreciation. D. depreciation.