Which of the following was a country that ran large deficits in the mid-1990s and plunged into deep recession in 1997 and 1998 when foreign investors became concerned about the health of these economies and quickly pulled their money out of stock and bond markets, real estate, and banks?
a. North Korea
b. Argentina
c. Malaysia
d. India
c. Malaysia
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Trade allows each person to specialize in the activities he or she does best, thus increasing each individual's productivity
a. True b. False Indicate whether the statement is true or false
Considering the In the News article "Microsoft Guilty of Monopoly Abuse" antitrust laws attempt to
A. Protect producers from too much competition. B. Protect the government from frivolous lawsuits. C. Increase the profitability of monopolies. D. Prevent the abuse of market power.
When total product is increasing at an increasing rate, marginal product is
A. constant. B. positive and increasing. C. positive and decreasing. D. negative.
The nominal rate of interest is
A. the real rate of interest minus the previous year's change in the price level. B. the same as the price level. C. lower than the real rate in a period of inflation. D. the interest rate actually paid by the borrower.