An economy that is an active participant in international trade is
A. a closed economy.
B. a protectionist economy.
C. an open economy.
D. an egalitarian economy.
Answer: C
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Unlike the Federal Reserve Bank of today, the First and Second Banks
(a) could create corporations by special franchise. (b) were generally supported by the rest of the banking community. (c) were direct competitors with private business. (d) provided a federal safety fund in times of well banking crisis.
Gulmirah, a small underdeveloped country, has an adult population of 16.8 million, and the remaining 13.75 million of the population is below 18 years of age. The approximate output per capita of this country is $644.80 . The GDP of Gulmirah is equal to approximately _____
a. $8.87 billion b. $10.08 billion c. $20.30 billion d. $13.22 billion e. $19.70 billion
In the hard-landing scenario the ability of the Fed to respond
a. is unlimited b. is constrained because their inclination to raise interest rates would further compound the value of the dollar problem. c. is constrained because their inclination to lower interest rates would further compound the value of the dollar problem. d. limited because the resulting boom would run out of control. e. is constrained because their inclination to lower taxes would depress tax revenues.
The Montreal Protocol and its subsequent amendments
a. accomplished little in correcting ozone depletion b. failed to recognize the special problems of developing nations c. established and implemented phase out schedules for ozone depleters d. was an international agreement aimed at addressing climate change