The economic growth model predicts that ________ across countries will converge over time
A) growth rates B) income levels
C) GDP per capita D) foreign direct investment rates
C
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In order to close a recessionary gap, the Fed would
The United States exports a good if its no-trade U.S. price is ________ its world price. With international trade, U.S. production of the good ________ compared to the level of no-trade production
A) the same as; does not change B) lower than; increases C) the same as; increases D) higher than; increases E) higher than; does not change
In the absence of an even-handed legal system, high transaction costs will eliminate many potential mutally advantageous trades and the accompanying gains from
What will be an ideal response?
The United States functions as a "safety valve" for the Mexican economy
A) when the U.S. government bails Mexico out of financial crisis. B) when the U.S. market buys products from the maquiladora industry. C) when Mexican workers who can't find jobs in Mexico migrate to the United States and send part of their income back to Mexico. D) when U.S. firms engage in direct foreign investment in Mexico.