The term costs of adjustment refers to the states' intentions to _______________ , which is common in the politics of international finance.
Fill in the blank(s) with the appropriate word(s).
force any currency imbalance onto others
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Which of the following is false?
a. Expansionary fiscal policy will tend to cause net exports to fall b. The larger the crowding out effect, the smaller the actual effect of a given change in fiscal policy. c. The crowding out effect does not occur with a tax change. d. Starting from an initial recession equilibrium, expansionary fiscal policy could potentially increase employment to the full employment level.
The theory of rational behavior
A. assumes that people will behave in the best interest of society as a whole. B. implies that people will always take the time to make perfectly informed decisions. C. is an assumption that economists make to have a useful model for how decisions are made.
Which panel of Figure 3.3 represents the changes in the market for beef when the price of corn (cattle feed) rises and the people become more fearful of mad cow disease?
A. A. B. B. C. C. D. D.
Without adjusting for "purchasing power parity," real GDP tends to understate income in developing economies by
A. ignoring government-deficit spending. B. omitting non-market transactions. C. underestimating saving. D. all of the options are correct.