The building of a production plant in China by an American firm best illustrates a(n):
A. trade flow.
B. resource flow.
C. financial flow.
D. information flow.
B. resource flow.
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The reserve ratio is 10% and a bank has $600,000 in transaction deposits. The amount of reserves equals
A) $6,000. B) $60,000. C) $600,000. D) undeterminable without information on cash reserves.
Price is the coordinating mechanism in a planned economy.
Answer the following statement true (T) or false (F)
Expansionary monetary policy during periods of underutilized resources can cause
A) real Gross Domestic Product (GDP) to increase without an increase in the price level. B) real Gross Domestic Product (GDP) to increase with a decrease in the price level. C) real Gross Domestic Product (GDP) to increase with an increase in the price level. D) nominal Gross Domestic Product (GDP) to increase but cannot affect real Gross Domestic Product (GDP).
All of the following statements present accurate information about the major antebellum transport routes except:
a. The Northeastern Gateway connected Pittsburgh to Philadelphia and Wheeling to Baltimore. b. The Southern Gateway was primarily a water-based route. c. The Mid-Atlantic Gateway connected Savannah and Charleston to Washington, DC via roads and railroads. d. The Northern Gateway included the Erie Canal.