Which of the following factors is the most significant in determining the pattern of international trade?
a. absolute advantage
b. diplomatic expertise
c. comparative advantage
d. overpowering military strength
e. a country's size relative to another country's
C
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In the above figure, what could cause the shift of aggregate demand fromAD1 to AD2?
A) depletion of raw materials B) an increase in international trade barriers C) a decrease in consumer confidence D) an increase in input prices
Increases in the quantity of money can start a ________ inflation and an increase in government expenditure can start a ________ inflation
A) demand-pull; cost-push B) cost-push; cost-push C) cost-push; demand-pull D) demand-pull; demand-pull E) None of the above is correct because increases in the quantity of money are necessary to continue an inflation but cannot start an inflation.
The ________ nature of consumer durables expenditures ________ a significant drop in the personal-saving-and-consumer-durables-expenditure ratio in a recession
A) procyclical, helps produce B) procyclical, prevents C) countercyclical, helps produce D) countercyclical, prevents
The major source of surplus value is:
a. Capitalist philanthropy b. Labor c. Spontaneous order d. Monopoly e. Above Subsistence wages