What factors have served to open up world markets to increased international trade?
a. improvements in communications and transportation
b. increased tariffs and legislation protecting industries
c. an emphasis on regional markets and local sourcing
d. climate change and rising environmental awareness
a. improvements in communications and transportation
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In 2008 the fall in the value of the stock market decreased people's wealth. As a result of this change alone, the supply of loanable funds
A) did not change, and there was a downward movement along the supply of loanable funds curve. B) did not change, and there was an upward movement along the supply of loanable funds curve. C) decreased. D) did not change, and there was no movement along the supply of loanable funds curve. E) increased.
Refer to Figure 2-5. If the economy is currently producing at point X, what is the opportunity cost of moving to point Y?
A) 14 million tons of steel B) 5 million tons of steel C) 5 million tons of paper D) 9 million tons of paper
Firms in perfectly competitive industries are unable to control the prices of te products they sell and are unable to earn a profit in the long run. Which of the following is one reason for this?
To be successful in stabilizing AD, the application of a constant growth-rate rule for the money supply requires
A) a constant velocity of money. B) a steady and predictable rate of growth of the velocity of money. C) a steady and predictable rate of growth of the velocity of income. D) Both B and C are correct.