Which of the following is the highest bond rating assigned by Moody's Investors Service?
A) Aaa
B) A
C) B
D) Baa
A
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Economic theory has traditionally focused on optimality in decision making.
Answer the following statement true (T) or false (F)
Can a country have comparative advantage in all products?
What will be an ideal response?
The Ricardian proposition that international trade will benefit any country ("gains from trade") as long as the world terms of trade do not equal its autarkic relative prices is a straightforward and powerful concept
Nevertheless, it is impossible to demonstrate empirically. Why?
If the demand for liquor is elastic and the supply of liquor is inelastic, when the government increases liquor tax, _____
a. most of the tax will be paid by the consumer b. most of the tax will be paid by the producer c. all of the tax will be paid by the consumer d. all of the tax will be paid by the producer e. the tax will be paid by the retailer