The Cold War
A) hampered globalization because it created a political barrier between countries which reduced the likelihood that those countries would engage in trade with one another.
B) enhanced globalization because it helped to encourage countries to engage in trade with one another.
C) ended with the building of the Berlin Wall in the early 1960s.
D) a and c
A
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How does the Fed intervene in the foreign exchange market and what the effects are of the Fed's actions?
What will be an ideal response?
The government finances Social Security through
A) excise taxes. B) payroll taxes. C) the sale of goods and services. D) state taxes.
Asymmetric information arises when:
a. both the parties to an exchange have perfect information about the good. b. none of the parties to exchange have any information about the good. c. one party to an exchange knows more than the other party. d. a good is provided by the government. e. the market is perfectly competitive.
The Ricardian model can be simplified and made more explanatory by assuming that there is only one resource used in producing goods. What did Ricardo assume the resource was?
a. capital b. technology c. labor d. loanable funds