Benefits of free trade include all of the following EXCEPT
A) increased world production.
B) higher standards of living.
C) transmission of new ideas.
D) increased international mobility of labor.
D
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Bank reserves can be viewed as:
a. Profitable assets in a bank's portfolio. b. Taxes on profits. c. Assets that all banks should have in excess, if they want relatively high profits and relatively low risks. d. All the above.
Suppose the economy was in equilibrium, and the national government increased spending by an expected amount equal to $200 billion. Monetarist theory would predict that:
a. Aggregate demand will rise, causing only real GDP to rise. b. The real risk-free interest rate will rise, but real GDP will remain the same. c. Aggregate demand will fall, and real GDP will fall. d. Aggregate demand will rise causing only prices to rise. e. Aggregate demand will rise causing both prices and real GDP to rise.
Which of the following is not a lagging indicator?
a. Duration of unemployment b. Commercial and industrial loans c. Stock prices d. Prime rate
Nonactivists hold that
A) activist monetary policies are likely to be destabilizing rather than stabilizing. B) economic fine-tuning is quite feasible. C) flexibility in wages and prices is sufficient to allow the economy to return at a reasonable speed to full-employment output. D) a and c E) all of the above