Suevania opens its doors to trade with Barvania. Barvania has a comparative advantage in the production of machinery. Hence, once trade occurs, Suevania's consumers will buy ________ machinery and pay ________ before
A) more; a higher price than
B) more; a lower price than
C) less; a higher price than
D) less; a lower price than
E) the same amount of; the same price as
B
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Along an LM curve at lower income levels the transactions demand for money is __________, so the interest rate must be __________ to equate the demand to the fixed supply of money
A) higher; higher B) higher; lower C) lower; higher D) lower; lower
Innovation is
a. the same thing as invention. b. the desired result of invention. c. the necessary precondition of invention. d. unrelated to invention.
The FDIC raises its funds by _____________.
Fill in the blank(s) with the appropriate word(s).
Market power is the ability of a firm to
A. Act as a price taker. B. Advertise. C. Increase the number of substitute goods. D. Control the price and quantity supplied.