When the United States moves upward along the J-curve, it is because a depreciation of the dollar is having the _____________ effect of _____________ the number of dollars spent on imports
A) long-run; increasing
B) long-run; reducing
C) short-run; increasing
D) short-run; reducing
B
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Market systems are often referred to as "automatic" or "self-regulating" because they function
A) effectively even when no participant in the system plans ahead. B) effectively in the absence of any laws. C) effectively even when the society is breaking down. D) without an overall, comprehensive plan. E) without the intervention of human beings.
Current offers to purchase or sell scarce goods take account of the wants of future generations
A) if government intervenes to give the future a current voice. B) if people are able to predict future prices. C) only if people are concerned for the welfare of others yet unborn. D) only rarely because people are predominantly selfish.
In the coordination failure model, increasing returns to scale are best explained by strategic
A) mismanagement. B) complementarities. C) substitutabilities. D) collusion.
Natural resources:
A. are production inputs that come from the earth. B. are natural talents people are born with that make them productive. C. are physical structures that sit on the earth, improving it and making it more productive. D. None of these is true.