What concept negates the idea that a country can specialize to the degree suggested by the Ricardian model?
What will be an ideal response?
diminishing returns
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Raising the federal funds rate shifts the aggregate demand curve ________ so that real GDP ________ and the price level ________
A) rightward; increases; rises B) leftward; decreases; rises C) rightward; increases; falls D) leftward; decreases; falls E) leftward; increases; rises
When banks involved in trading activities attempt to outguess markets, they are
A) forecasting. B) diversifying. C) speculating. D) engaging in riskless arbitrage.
If all prices and income change by the same proportion:
A. the budget line shifts out. B. the budget line shifts in. C. the budget line rotates outward. D. the budget line doesn't change.
By law what goals are the Federal Reserve to pursue? What, if any, specific weights are given for these goals?