Trade between countries is based on
A) absolute advantage only.
B) monopoly power.
C) comparative advantage.
D) none of these choices.
C
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The appropriate monetary policy in the event of a recessionary gap would be to
A) raise the required reserve ratio. B) increase the difference between the federal funds rate and the required reserve ratio. C) engage in an open market purchase of U.S. government securities. D) increase the difference between the discount rate and the federal funds rate.
How are Federal Reserve Board Governors selected?
The number of labor union members reached its peak in the decade of the
A. 1950s. B. 1960s. C. 1970s. D. 1980s.
Which of the following does not appear on the asset side of a bank's balance sheet?
A. required reserves B. checkable deposits C. loans D. excess reserves