Capital and labor only very recently have been free to move across international borders
Indicate whether the statement is true or false
FALSE
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Which of the following statements is true?
a. World trade as a fraction of world GDP is much less than it was at the end of the 19th century. b. War decreases the pace of globalization. c. Large countries such as the U.S., Russia, and Japan have high scores in economic integration when measured against the criteria of Foreign Policy magazine. d. Poor countries tend to have high scores in the personal contact area when measured against the criteria of Foreign Policy magazine. e. The U.S. increased its international investments after the September 11, 2001 terrorist attacks to revive their economy.
Which of the following is an example of a pure public good?
A. An automobile B. A mall C. A teddy bear D. An army
The optimal mix of output is always the same as the
A. Output that producers produce. B. Output that the government provides. C. Output that consumers demand. D. Most desired combination on a production possibilities curve.
Potential output is equal to
A. short-run aggregate demand. B. long-run aggregate supply. C. short-run aggregate supply. D. long run aggregate demand.