Regional integration is better known as global integration through the World Trade Organization.
a. true
b. false
b. false
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Because the market demand curve slopes downward
a. each unit of a good is worth more than the market price b. each unit of a good is worth the market price paid for each c. each unit of a good is worth less than the previous units are worth d. diminishing marginal returns have set it e. the market is efficient
Higher indifference curves are preferred to lower ones as long as the
a. marginal rate of substitution is diminishing. b. products in the bundle are "bads" and not "goods.". c. products in the bundle are "goods" and not "bads.". d. budget constraint does not shift.
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
In which decade did the United States begin experiencing large trade deficits?
A) 1960s B) 1990s C) 2000s D) 1970s