An exogenous increase in the country's trade balance shifts the
a. IS schedule to the left.
b. IS schedule to the right.
c. LM schedule to the left.
d. LM schedule to the right.
B
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If Mary has an absolute advantage over Bill in performing each of two tasks, then
a. Mary must have a comparative advantage in both tasks b. Mary cannot benefit by specializing in one and trading with Bill for the other c. Mary should specialize in both tasks d. Mary cannot have a comparative advantage in either task e. Mary should specialize in the one in which she has a comparative advantage
The 27-member EU negotiates trade agreements as one. The EU and Brazil have negotiated a strategic trade alliance, which is an example of a ________.
A) customs union B) global free trade agreement C) bilateral agreement D) multilateral agreement
If supply increases and demand does not change, then price
a. as well as quantities demanded and supplied will increase b. will decrease, and quantity demanded and supplied will increase c. will decrease, and quantity demanded and supplied will decrease d. and quantity demanded remain unchanged e. remains unchanged, but both quantities demanded and supplied will decrease If supply increases and demand does not change, then price
Capital stock is defined as the retail value that was paid for a firm's productive assets.
Answer the following statement true (T) or false (F)