If the ________ cost of production for two goods is different between two countries then mutually beneficial trade is possible
A) explicit B) marginal C) opportunity D) implicit
C
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Open market purchases ________ reserves and the monetary base thereby ________ the money supply
A) raise; lowering B) raise; raising C) lower; lowering D) lower; raising
In September 2008, the Reserve Primary Fund, a money market mutual fund, found itself in the situation know as "breaking the buck." This means that
A) they could no longer afford to redeem shares at the par value of $1. B) they required shareholders to contribute a dollar more in fees each month. C) shareholders were able to redeem shares for more than a $1. D) shares earned more than a dollar in interest.
In the United States and other high-income countries, capital's share and labor's share of total income have been about ________, respectively
A) 1/2 and 1/2 B) 4/5 and 1/5 C) 1/3 and 2/3 D) 3/4 and 1/4
A central bank with a hierarchical mandate will seek ________ as a condition of pursuing other goals
A) stable inflation B) high employment C) moderate interest rates D) the approval of the legislature E) none of the above