A hands-off policy of the government is termed
a. economic regulation
b. antitrust
c. nationalization
d. creative destruction
e. laissez-faire
E
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The implicit GDP deflator is
A) nominal GDP divided by real GDP. B) nominal GDP times real GDP. C) real GDP divided by nominal GDP. D) the zero economic growth society.
Foreign exchange markets are markets wherein the goods of international trading partners are exchanged
Indicate whether the statement is true or false
Political factors influence international trade because
a. foreign trade always involves at least two governments. b. foreign governments are much less concerned with the welfare of citizens in other countries. c. foreign governments often establish impediments to free international trade. d. All of the above are correct.
The higher the opportunity cost of making a new friend, the more likely one is to make a new friend, ?ceteris paribus?
Indicate whether the statement is true or false