Studies of U.S.-Canadian free trade have concluded that free trade produced what effect on Canadian firms?
a. increased productivity
b. decreased productivity
c. no change in productivity
d. could not be determined
Ans: a. increased productivity
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Purchasing power parity does a ________ job in explaining movements in nominal exchange rates in the short run and does a ________ job in explaining movements in nominal exchange rates in the long run
A) reasonable; reasonable B) reasonable; poor C) poor; reasonable D) poor; poor
Which of these is a central argument of Keynes's General Theory? a. Competition does not allocate resources efficiently in a modern industrial economy
b. Full employment can be maintained even during a major recession if wage rates are lowered far enough. c. Modern industrial economies do not tend automatically toward full employment rates of output. d. Money does not play an important role in either causing or curing recession. e. Government can best stabilize the economy by letting the market system automatically adjust toward full employment.
To try and stave off a devaluation of its fixed currency, Argentina was required to
A. lower interest rates. B. reduce tax levels. C. increase its money supplies. D. increase interest rates.
If the MPS is 1/3, a $100 increase in net exports will
A. increase real Gross Domestic Product (GDP) by $100. B. reduce real Gross Domestic Product (GDP) by $100. C. reduce real Gross Domestic Product (GDP) by $300. D. increase real Gross Domestic Product (GDP) by $300.