Refer to Table 7-6. All of the following are terms of trade that could possibly benefit both countries except
A) 1/4 of a belt : 1 sword. B) 7/10 of a belt : 1 sword.
C) 4/5 of a belt : 1 sword. D) 2/3 of a belt : 1 sword.
A
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Lines, ration coupons, and black markets are byproducts of a
A. price floor. B. price ceiling. C. free market. D. barter economy.
Discretionary expansionary fiscal policy may not lead to _____
a. decreased national saving b. decreased unemployment c. inflation d. lower interest rates e. crowding out
One of the primary causes of the banking collapse in the 1930s was ______.
a. artificial inflation of the housing market b. depositor fears resulting in bank runs c. the collapse of Lehman Brothers d. very high reserve requirements set by the FOMC
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.