Agreements such as the ________ are attempts to standardize international banking regulations
A) Basel Accord
B) UN Bank Accord
C) GATT Accord
D) WTO Accord
A
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"When countries specialize in producing the good in which they have a comparative advantage and then trade with each other, only the country with the absolute advantage gains"
Is the previous statement correct or incorrect? Briefly explain your answer.
When the Fed uses contractionary policy,
A) it causes inflation. B) the price level rises higher than it would if the Fed did not pursue policy. C) it does not change the price level. D) the price level rises less than it would if the Fed did not pursue policy.
Given a production possibilities curve for defense goods and non-defense goods, which of the following is not true?
a. A production point outside the curve may be attained if new resources are discovered. b. A production point outside the curve may be attained by acquiring a new technology. c. A production point outside the curve may be attained by shifting resources to defense goods. d. A production point outside the curve may be attained by acquiring both a new technology and greater resources. e. A production point outside the curve cannot be attained with the current level of resources and technology.
Which of the following measures is associated with an expansionary fiscal policy?
a. lowering consumption b. lowering taxes c. lowering government purchases d. decreasing investments