A country benefits from trade if it is able to obtain a good from a foreign country by giving up more of other goods than it would have to give up to obtain the good at home
a. True
b. False
Indicate whether the statement is true or false
False
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The change in aggregate expenditures resulting from a movement in the domestic price level, which in turn changes the price of domestic goods in relation to foreign goods, is known as the:
a. international trade effect. b. multilateral equilibrium condition. c. international exchange rate effect. d. magnified international pricing effect. e. international deficit effect.
The market demand curve for a particular good
a. will shift to the right if more consumers enter the market b. could shift to the left if more consumers enter the market c. will be upward sloping if the good is an inferior good d. will always shift to the right if consumers' incomes increase e. could shift downward if more consumers enter the market
If the unemployment rate is 7 percent, the United States economy is operating
A. inside the production possibility curve. B. on the production possibility curve. C. outside the production possibility curve.
Nonresidential investment does NOT include
A. copy paper. B. office chairs. C. computers on desktops. D. software.