In a two-good, two country world, if one country has an absolute advantage in the production of both goods, it can still benefit by trading with the other country
Indicate whether the statement is true or false
TRUE
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The federal government budget has generally been in a deficit for the past several decades because
A) budget deficits promote full employment. B) every year during those decades was a recession year in which expansionary fiscal policy was called for. C) military expenditures were increased steadily throughout those decades. D) political pressure on Congress to increase taxes and to balance the budget were less effective than political pressure to increase expenditures.
Roughly what was the change in Chile's per capita GDP between 1960 and 2011?
A) 2.65% B) 26.5% C) 265% D) 2,650%
Explain why gasoline stations across the street from each other with large signs displaying their prices may "legally" jointly set monopoly prices
What will be an ideal response?
Which of the following could be considered a macroeconomic issue?
A. Twinkies goes bankrupt, and the entire snack industry experiences losses. B. The unemployment rate in the US falls to 7.5 percent from 7.7 percent during the month of June. C. The decision of Microsoft to offer a free upgrade to Windows 10. D. T-Mobile and MetroPCS finalize a merger.