Refer to Table 2-11. China has a comparative advantage in the production of
A) digital cameras. B) wheat. C) both products. D) neither product.
B
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Menu costs in relation to inflation refer to:
a) Costs of finding better rates of return b) Costs of altering price lists c) Costs of money increasing its value d) Costs of revaluing the currency
When General Dwight D. Eisenhower ran for the presidency for the first time, he said he would
A. end the recession and end inflation. B. end the recession and end the Korean War. C. end inflation and end the Korean War. D. end the recession, the Korean War, and inflation.
Which of the following is not counted as part of M1?
A. coins B. Federal Reserve notes or " paper money" C. passbook savings deposits D. checkable deposits
Refer to the diagram for a private closed economy. The MPC and MPS are:
A. .6 and .4 respectively.
B. .7 and .3 respectively.
C. both .5.
D. both .7.