The Japanese yen makes up the largest portion of the international bond market.
a. true
b. false
b. false
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High inflation can do which of the following?
A) increase shoeleather costs B) distort consumption choices C) arbitrarily redistribute income D) all of the above
If the United States could produce 4 tons of potatoes or 2 tons of wheat per worker per year, while Ireland could produce 2 tons of potatoes or 3 tons of wheat per worker per year, the country with the comparative advantage in producing potatoes is ____ and the country with the absolute advantage in producing potatoes is ____
a. the United States; the United States b. the United States; Ireland c. Ireland; the United States d. Ireland; Ireland
Which of the following would not be considered an internal force that helps move the economy out of a trough?
a. the replacement of worn-out capital b. higher interest rates c. the replacement of depleted inventories d. costs falling lower than prices
The effects of the national health care program on goods and services markets will
A) increase the marginal cost of the firm. B) increase the quantity produced of the firm. C) consumers will pay lower prices for many goods and services. D) decrease the quantity demanded for all goods and services.