Which of the following rise during a recession?
a) losses but not unemployment
b) unemployment but not losses
c) neither losses nor unemployment
d) both losses and unemployment
Answer: d) both losses and unemployment
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National saving minus investment equals the current account
Indicate whether the statement is true or false
The more liquid markets are the:
A. more people are willing to save, and the higher the amount of investment occurs. B. less people are willing to save, and the higher the amount of investment occurs. C. more people are willing to save, and the lower the amount of investment occurs. D. less people are willing to save, and the lower the amount of investment occurs.
Which president had to cope with both rising deficits and a rising rate of inflation?
A. John Kennedy B. Dwight Eisenhower C. Jimmy Carter D. Ronald Reagan
If you can produce more of something than others with the same resources, you have
A) a free-market economy.
B) an absolute advantage.
C) an efficient production system.
D) a comparative advantage