Refer to the following graph.
If this country is producing between point G and Q, it will gain by ________ its production of good A and importing more ________.
A. increasing; good A
B. decreasing; good B
C. decreasing; good A
D. increasing; good B
Answer: C
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In the 1980s, the United States on net ________ foreign nations so that its private firms could absorb through domestic investment ________ goods than what was being left for them by national saving
A) borrowed from, more B) borrowed from, fewer C) lent to, more D) lent to, fewer
Suppose you have a fixed-rate mortgage with a nominal interest rate of 6% and the expected annual inflation rate over the life of the mortgage is 2%. What is the expected real interest rate?
A) 3% B) 4% C) 8% D) 12%
The principle of subsidiarity states that
A) individual countries do not have to give up individual sovereignty for the good of the union. B) the union only has the authority to deal with issues best handled by international action. C) the union is the ultimate arbiter of all European issues. D) the union has no authority within countries.
If production costs increase, the price level will rise.
Answer the following statement true (T) or false (F)