An argument against free trade is that it might endanger national security
Indicate whether the statement is true or false
T
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The statement “Resources employed in producing X are better suited to making Y” is another way of saying
A. the production possibilities frontier is “bowed out.” B. the production possibilities frontier is a straight line. C. the production possibilities frontier is “bowed in.” D. resources are unproductive. E. resources have no opportunity cost.
If people expect the dollar to depreciate, then the
A) demand for dollars will decrease, the supply of dollars will increase, and the exchange rate will fall. B) demand for dollars will decrease, the supply of dollars will not change, and the exchange rate will fall. C) supply of dollars will increase, the demand for dollars will not change, and the exchange rate will fall. D) demand for dollars will increase, the supply of dollars will decrease, and the exchange rate will rise.
The government of a small open economy announces a tax cut of $100 this year, combined with a tax increase of $110 next year, when the interest rate is 10%
What are the effects of this change on the world real interest rate, national saving, investment, and the current account balance in equilibrium when (a) Ricardian equivalence holds? (b) Ricardian equivalence does not hold?
When there is no Equilibrium (or no Nash Equilibrium), we expect that:
a. the firms end up in the cooperative strategy. b. a firm will follow a randomized strategy. c. a firm will not care what it does. d. a firm will very likely have a dominant strategy.