Free trade refers to trade between countries
A) that is without shipping costs.
B) that is licensed by both governments.
C) that is without restrictions.
D) of products which are free to low-income consumers.
Answer: C
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Assume that there are no excess reserves in the banking system when the reserve requirement is 20%. The purchase of $10,000 in U.S. government securities by the Fed from Academy National Bank has the potential to ultimately increase the money supply by: a. $2,000
b. $8,000. c. $10,000. d. $20,000. e. $50,000.
Which of the following does not hinder economic development?
a. low birth rates b. low saving c. lack of infrastructure d. low levels of technology e. the importance of tradition
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, Joe's opportunity cost of selling a truck is selling:
A. 4 cars. B. 1/3 of a car. C. 1 car. D. 9 cars.
A large increase in the legal minimum wage is most likely to benefit
A) teenagers. B) unemployed workers. C) unionized workers. D) unskilled workers. E) none of the above because price-fixing hurts everyone.