Assume that investment opportunities are less in high-wealth countries and more in low-wealth countries. Now, if all barriers to international financial transactions are removed, borrowers in ________ countries lose and lenders in ________ countries gain.
A. low-wealth; high-wealth
B. high-wealth; high-wealth
C. low-wealth; low-wealth
D. high-wealth; low-wealth
Answer: B
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The above figure shows the U.S. market for replacement cell phone batteries. With free trade, the United States imports ________ batteries and once the tariff illustrated in the figure is imposed, the United States imports ________ batteries
A) 900,000; 700,000 B) 800,000; 400,000 C) 300,000; 100,000 D) 700,000; 300,000 E) 900,000; 100,000
When resources are readily available, such as during the Great Depression, they can be used to produce more goods (and create more income) without causing prices to increase
Indicate whether the statement is true or false
If because they expect the central bank to disinflate, people reduce their inflation expectations, then is the sacrifice ratio larger or smaller the otherwise? Defend your answer by referring to the Phillips curve
A pure monopoly is not allocatively efficient because at the profit-maximizing level of output ________.
A. P > MR B. P > AVC C. P > ATC D. P > MC