In general, a nation can enjoy a higher standard of living by ________ than by being self sufficient.
A. specialization and trading
B. avoiding trade with other nations
C. increasing its versatility
D. taxing imported goods
Answer: A
You might also like to view...
Refer to the Article Summary. Prior to the initiation of the BRRD, the European Union had essentially been bailing out troubled banks. In doing this, the EU was, in effect, acting as a
A) private equity firm. B) shadow bank. C) lender of last resort. D) conductor of open market operations.
Which of the following is a fixed percentage of the value of an imported product?
A) specific tariff B) ad valorem tariff C) nominal tariff D) effective protection tariff E) infant industry tariff
Intertemporal decisions are
a. decisions in one period of time. b. decisions over time. c. decisions made without thinking about time. d. decisions involving infinity.
Suppose a bank has total assets of $300 million and a net worth of $15 million. Its demand deposit liabilities must be equal to
a. $20 million b. $315 million c. $0.05 million d. $285 million e. $585 million.