As shown in Exhibit 3, ______ has ______ in producing both cloth and food.
a. Calvin; an absolute advantage
b. Calvin; a comparative advantage
c. Wendy; an absolute advantage
d. Wendy; a comparative advantage
c. Wendy; an absolute advantage
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When the nominal interest rate falls, the opportunity cost of holding money
A) decreases and there is a movement downward along the demand for money curve. B) increases and there is a movement upward along the demand for money curve. C) decreases and the demand for money curve shifts rightward. D) increases and the demand for money curve shifts rightward. E) decreases and the demand for money curve shifts leftward.
There has been catch-up among ________, but there has not been catch-up among ________
A) developing countries such as Niger; industrialized countries such as Japan B) developing countries such as Niger; all countries of the world C) industrialized countries such as Japan; all countries of the world D) all countries of the world together; industrialized countries such as Japan
For developed countries like the United States, GDP will always exceed GNP
Indicate whether the statement is true or false
One of the most important enforcement tools of the Consumer Finance Protection Bureau is:
A) the threat of civil charges against those who violate the laws involving money transfers, foreclosure and many other financial services B) the ability to audit financial firms and institutions C) the ability to initiate new regulations D) the authority to impose criminal penalties