Which of the following exemplifies the most likely benefit of free trade?
a. All the citizens of Topland received payment for the shirts the nation traded to other nations.
b. Gameland’s economy grew when its products gained popularity with foreign consumers.
c. Manufacturing workers in Steelberg were laid off when production moved overseas.
d. Citizens of Lumberville had ample sunshine after they traded their trees for computers.
b. Gameland’s economy grew when its products gained popularity with foreign consumers.
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Everything else held constant, if aggregate output is to the ________ of the LM curve, then there is an excess supply of money which will cause the interest rate to ________
A) right; fall B) right; rise C) left; fall D) left; rise
We reject the null hypothesis of no effect if the p-value is typically
A. ? 1. B. ? 0.05. C. ? 0.5. D. ? 0.10.
Classical macroeconomic theorists believed that the economy would recover on its own from an economic downturn because:
A. falling wages would lead prices to fall, which, in turn, would spur consumer spending. B. falling wages would lead consumers to spend less and save more. C. rising wages would lead prices to rise, which, in turn, would lead consumers to spend less. D. higher prices would lead wages to rise, which, in turn, would spur consumer spending.
International dependence theories distinguish between two groups of countries known as
a. rich-poor. b. developed-developing. c. center-periphery. d. independent-dependent.