Refer to Table 2-5. If the two countries specialize and trade, who should export cell phones?
A) Estonia
B) They should both be importing cell phones.
C) There is no basis for trade between the two countries.
D) Finland
D
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The federal government relies on ________ to limit inequality
A) regressive taxes B) proportional taxes C) progressive taxes D) marginal taxes
How serious is the national debt to our economic stability?
Compared to perfect competition, monopoly
A. provides less output. B. charges a higher price. C. results in higher cost (inefficient) production. D. All of these responses are correct.
Britain's 1992 recession is probably the result of:
A) the struggle to reconcile monetary and fiscal policy. B) the adherence to the ERM, which required Britain to raise interest rates to maintain exchange parity. C) high unemployment rates, which are a product of the generous welfare system. D) poor planning for the conversion to the euro.