Saving rates tend to rise during ________ and fall during ________.
A. boom times; recessions
B. recessions; contractions
C. boom times; expansions
D. recessions; expansions
Answer: D
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Refer to Edgeworth Box Economy. In an Edgeworth box, points within the region of mutual advantage represent allocations that
a. can be achieved by a competitive market. b. both consumers prefer to the initial endowment. c. exhaust the potential gains from trade. d. are Pareto optimal.
According to this Application, international statistics show that the developing countries are ________ and the developed countries are ________
A) creditors; creditors B) creditors; debtors C) debtors; debtors D) debtors; creditors
Aid is considered "tied" when it is
a. provided for restricted purposes b. required to be used for purchases from the donor country c. provided in exchange for the recipient's support in the United Nations d. required to be used solely for either public or private projects e. none of the above
The text's discussion of the airline industry, the soft drink industry, and the doughnut industry reveals a common theme when it comes to the types of competitive practices firms in each industry engage in
What is it and what advantage does it offer firms?