If the U.S. enjoys an absolute advantage in agriculture compared to every other country in the world, then
A. agricultural production will take place only in the U.S.
B. the U.S. necessarily has a comparative advantage in agriculture.
C. the U.S. may or may not have a comparative advantage in agriculture.
D. the U.S. necessarily does not have a comparative advantage in agriculture.
C. the U.S. may or may not have a comparative advantage in agriculture.
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A swap designed to compensate for mismatched securities is a type of __________ called a __________ swap
A) speculation; currency B) speculation; generic C) hedging; London D) hedging; plain vanilla
Many people believe that a monopolist can set his own price which consumers have little recourse but to pay, and thereby reap enormous profits. Is this true?
Which of the following about unemployment is true?
a. The unemployment rates of the major European economies have been lower than the United States during the last decade. b. The natural rate of unemployment is unaffected by labor market regulations and other dimensions of public policy. c. High unemployment rates over lengthy time periods are indicative of structural factors that are adversely affecting the natural rate of unemployment. d. The unemployment rates of Spain and Italy were among the lowest in the world during the past two decades.
An elected official will:
a. tend to favor policies that wield benefits in the short run and impose costs in the long run b. tend to favor policies that impose costs in the short run and yield benefits in the long run c. both of the above d. neither of the above