With the benefits of international trade:
a. there can be increased consumption for all.
b. global production will be increased.
c. world resources will be used more efficiently.
d. all of these are true.
d
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Use the following table to answer the next question.Money SupplyInterest RateGross Investment$200 billion0.2%$1 trillion$250 billion0.2%$1 trillion$300 billion0.2%$1 trillionWhich limitation for monetary policy is illustrated by the table?
A. crowding out B. pessimistic business expectations C. policy lags D. the liquidity trap
In a Bertrand model, graphically, the intersection of all firms' best-response curves determines
A) the Nash equilibrium prices. B) the dominant strategy for each firm. C) the degree of product differentiation. D) the price of the market leader.
Refer to Figure 2.1. At point B, demand is:
A) small. B) inelastic, but not completely inelastic. C) unit elastic. D) elastic, but not infinitely elastic. E) infinitely elastic.
With the growth of international trade, U.S. antitrust law has become
a. more vague b. more necessary c. less necessary d. stricter e. more likely to enhance consumer welfare