Most trade groups contain countries in the same area of the world, even though neighboring countries usually lack a common history and interests.
a. true
b. false
b. false
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Assume a money multiplier of 3. If the Treasury finances a $30 million expenditure by selling securities to the Fed, the effect of this transaction on the money supply is that it will
A) remain unchanged. B) rise by $3 million. C) rise by $30 million. D) rise by $90 million.
When the price level falls
A) imports increase, and exports decrease, which causes a movement up along the aggregate demand curve. B) there is no impact on imports or exports, so there is no associated movement along the aggregate demand curve. C) imports decrease and exports increase, which cause a movement down along the aggregate demand curve. D) imports decrease and exports increase, which cause a movement up along the aggregate demand curve.
In economics, we assume rational decisions are made when individuals weigh:
A. the sunk costs versus the benefits of an action. B. the sunk costs versus the opportunity costs of an action. C. the opportunity costs versus the benefits of an action. D. the opportunity and sunk costs versus the benefits of an action.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.