On an aggregate level, free trade produces a net __________ and restricted trade produces a net __________
A) loss; loss also
B) benefit; benefit also
C) benefit; loss
D) loss; benefit
C
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"If Mexico is currently operating at a point inside its production possibilities frontier, then there are unemployed resources in Mexico." Is this statement true or false? Briefly explain your answer
What will be an ideal response?
When the short term adjustment of a nation's price level is sluggish, economists will often discuss the nation's
A) price inertia. B) policy assignment. C) trade restrictions. D) central bank independence.
Which view of the causes of the Great Depression emphasizes the decline in the money supply which caused aggregate demand for goods and services to shrink, leading businesses to cut production and employment?
(a) The Monetarists' (b) The Keynesians' (c) The Austrians' (d) The International View
The definition of human capital refers to
a. worker education and workers' equipment. b. worker education and workers' physical capital. c. workers' equipment and workers' physical capital. d. worker education and worker training.