The result of British currency policy after World War I
A) left the country with painfully high interest rates and unemployment for years.
B) left the country well positioned for the roaring twenties that followed.
C) gave the country a tremendous advantage when the Smoot-Hawley Act was passed in the U.S.
D) left the country at a tremendous disadvantage when the Smoot-Hawley Act was passed in the U.S.
A
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The outflow of highly-educated workers from low-income countries to high-income countries is called:
A. Backflow B. Self-selection C. Skill transferability D. Brain drain
Figure 6-4
In Figure 6-4, total expenditure ____ as price falls from P = 12 to P = 10.
A. falls B. remains constant C. rises D. rises by more than $12
The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.
The slope of the PPC between points X and Y is determined by ________ opportunity cost.
A. Janna's B. Kari's C. Drew's D. Janna and Drew's
Efficiency wages are above-market wages that are paid to workers to keep them productive.
Answer the following statement true (T) or false (F)