Refer to the table above. If countries were to trade along the lines of absolute advantage
A) A would export X to B.
B) B would import Y from A.
C) neither country would want to trade.
D) More information is needed to determine the pattern.
A
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After the September 11th attack on the World Trade Center, and with the emergence of the anthrax scare, the price and the purchases of gas masks jumped dramatically in New York City. In the economic way of thinking, which of the following occurred?
A) The supply curve for gas masks shifted to the right. B) The supply curve for gas masks shifted to the left. C) The demand curve for gas masks shifted to the right. D) The demand curve for gas masks shifted to the left. E) The demand curve for gas masks became upward-sloping.
The NBER's Business Cycle Dating Committee picks recession dates by looking at many variables, the four most important of which are industrial production, manufacturing and trade sales, nonfarm employment, and real personal income
These variables are known as A) leading indicators. B) coincident indicators. C) lagging indicators. D) recession indicators.
Which characteristic does money currently not have?
A) It is issued by a government or central bank. B) It is considered valuable. C) It is backed by gold. D) It is a durable good.
If the required reserve ratio is 0.2, and a bank has $100 million in demand deposits and $40 million in property and buildings, it must hold reserves of at least
a. $28 million b. $20 million c. $26 million d. $12 million e. $8 million