If a particular factor has a specific use, its transfer earning is very high
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Table 8-5. The value added by the automobile dealer equals
A) $7,000. B) $15,000. C) $18,000. D) $25,000.
Why is trade based on comparative advantage?
What will be an ideal response?
Under the gold standard,
a. each nation had discretion over its monetary policy. b. trade-deficit nations had less control over their money supply than trade-surplus nations. c. trade-surplus nations had less control over their money supply than trade-deficit nations. d. no nation had control over its domestic monetary policy.
Refer to the accompanying figure.
Based on the figure, if the economy is in short-run equilibrium with output equal to 24,000, then there is ________, and ________ could return the economy to potential output (Y*).
A. an expansionary gap; a decrease in autonomous expenditures of 4,000 B. a recessionary gap; an increase in autonomous expenditures of 1,000 C. a recessionary gap; an increase in autonomous expenditures of 4,000 D. an expansionary gap; a decrease in autonomous expenditures of 1,000