A nation with abundant capital resources tends to be an exporter of:
A. Labor-intensive products
B. Capital-intensive products
C. Natural resource-based products
D. Consumer products
B. Capital-intensive products
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Pension fund growth has been spurred by the recent development of "defined __________ plans," such as the __________ plan
A) benefit; 401(k) B) benefit; Keogh C) contribution; 401(k) D) contribution; Keogh
Suppose Mexico can produce 5 autos or 10 corn. Suppose the United States can produce 4 autos or 20 corn. If opportunity costs are constant for both countries, which of the following would NOT be a potential terms of trade?
A) 1 auto for 3 corn B) 1 auto for 4 corn C) 1 corn for 1/3 of an auto D) 1 corn for 1 auto
Contractionary monetary policy on the part of the Fed results in
A) an increase in the money supply, a decrease in interest rates, and an increase in GDP. B) a decrease in the money supply, an increase in interest rates, and a decrease in GDP. C) a decrease in the money supply, a decrease in interest rates, and a decrease in GDP. D) an increase in the money supply, an increase in interest rates, and an increase in GDP.
The battery packs used in electric and hybrid automobiles are one of the largest cost components for manufacturing these cars. As the price of these batteries decline, we expect that the:
A) supply curve for electric and hybrid autos will shift rightward. B) supply curve for electric and hybrid autos will shift leftward. C) demand curve for electric and hybrid autos will shift rightward. D) demand curve for electric and hybrid autos will shift leftward.