Which of the following would be most likely to help the residents of a nation produce a larger output and consume a wide variety of products at economical prices
What will be an ideal response?
free trade
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
The Federal Reserve Board of Governors consists of:
a. 50 members selected by state legislatures. b. 12 members, one from each Federal Reserve District. c. 12 members nominated by the President and confirmed by the Senate. d. seven members elected by Congress. e. seven members nominated by the President and confirmed by the Senate.
The index of intra-industry trade is calculated as:
a. the minimum of imports and exports divided by the average of imports and exports. b. the maximum of imports and exports divided by the sum of imports and exports. c. imports divided by exports. d. imports plus exports divided by the average of imports and exports.
Refer to the table below. If the price of A decreases, while the price of B and the consumer's income stay the same, we would expect:
The table below shows the marginal-utility schedules for goods A and B for a hypothetical consumer. The price of good A is $1 and the price of good B is $2. The income of the consumer is $8.
A. MU/P of A to increase, and the consumers will thus buy less of B
B. MU/P of A to increase, and the consumers will thus buy less of A
C. MU/P of A to decrease, and the consumers will thus buy less of B
D. MU/P of A to decrease, and the consumers will thus buy less of A