If US workers can produce everything in less time than Mexican workers, it is not possible for the US to gain from trade with Mexico
a. True
b. False
Indicate whether the statement is true or false
False
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First-mover advantage is a characteristic of
a. A simultaneous-move game b. A dominant strategy c. A sequential-move game d. All of the above
The impetus to form an administrative body in Europe after World War II to distribute Marshall Plan aid and coordinate trade and other common issues resulted in three organizations:
A) the WTO, the GATT, and the IMF. B) the European Payments Union, the UN, and the early roots of the European Union. C) the European Payments Union, the European Coal and Steel Community, and Euratom. D) the Eastern bloc, the Warsaw Pact, and NATO.
Refer to the graph shown.
The diagram demonstrates that an increase in the price of soda will:
A. raise the quantity demanded of chocolate bars. B. reduce the quantity demanded of soda. C. raise the quantity demanded of soda. D. raise the consumer's available income.
One problem for economic stability is that in a period of inflation,
A. banks will be tempted to increase lending in order to increase profits. B. banks will be tempted to decrease lending in order to increase profits. C. profit-oriented banks will tend to hold excess reserves and decrease the money supply. D. deposits will decrease and banks will have to reduce lending.