Economic models explore decision making by individuals, firms and other organizations
Indicate whether the statement is true or false
TRUE
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What are the two tools of fiscal policy that governments can use to affect the level of aggregate demand?
A) taxation and controlling imports B) taxation and controlling exports C) government spending and taxation D) government spending and technology improvements
Both Mergatroid and the Geebocks produce only gizmos and widgets. It is possible for Mergatroid to have
A) an absolute and a comparative advantage in both products. B) an absolute but not a comparative advantage in both products. C) a comparative but not an absolute advantage in both products. D) neither a comparative nor an absolute advantage in both products.
The Fed took action in late 2008 to significantly decrease the federal funds rate. This action is best considered:
A. neither offensive nor defensive actions. B. both offensive and defensive actions. C. a defensive action. D. an offensive action.
The ________ approach to exchange rates emphasizes the role of portfolio repositioning by international financial investors.
A. balance-of-payments B. monetary C. asset market D. elasticity