International trade
A. benefits consumers but harms producers.
B. can only take place if a nation has a special natural endowment for the production of a good.
C. will occur if a nation has a comparative advantage in the production of a good.
D. represents trade between two governments.
C. will occur if a nation has a comparative advantage in the production of a good.
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In reality, commercial banks function most like ____ of the district Federal Reserve Banks
a. stockholders b. regulators c. customers d. competitors
If there is ongoing inflation in an economy, the value of real GDP will be greater than the value of nominal GDP
a. True b. False Indicate whether the statement is true or false
Which of the following rises when the U.S. price level falls?
a. interest rates b. the value of the dollar in the market for foreign-currency exchange c. real wealth d. All of the above are correct.
Suppose a perfectly competitive industry is in long-run equilibrium. If a decrease in demand leads to a lower long-run price, we know that
A. some firms will be losing money in the long run. B. this is an increasing-cost industry. C. this is a decreasing-cost industry. D. after further adjustments, price will rise to its original level.