The economic way of thinking indicates that personal benefits and costs influence the actions of
What will be an ideal response?
C) consumers, producers, voters, and politicians in both the private and the public sectors.
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Consider two economies: A and B. The nominal interest rate is the same in both economies, but the rate of inflation is higher in economy B. Which of the following statements will then be true?
A) The real interest rate will be the same in both economies. B) The real interest rate will be higher in economy B. C) The real interest rate will be higher in economy A. D) Whether the real interest rate is higher in economy A or B will depend on the number of borrowers in both economies.
When a country has flexible exchange rates the:
a. Capital account must be equal to and carry the opposite sign of the financial account b. Reserves account must be positive. c. Reserves account must be negative. d. Current account must equal the reserves account. e. None of the above.
Economists agree that trade ought to be restricted if free trade means that domestic jobs might be lost because of foreign competition
a. True b. False Indicate whether the statement is true or false
The accumulation of machinery and buildings used in the production of new goods and services is referred to as
a. production factors. b. output factors. c. capital. d. equity.