According to this Application, in the 1990s EU countries had ________ in the production of all products compared to Latvia
A) an absolute advantage and a comparative advantage
B) neither an absolute advantage nor a comparative advantage
C) an absolute advantage but not a comparative advantage
D) a comparative advantage but not an absolute advantage
C
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Real business cycle theory emphasizes the role of
A) government spending as a cause of economic fluctuations. B) shocks to the money supply as a cause of economic fluctuations. C) demand shocks as a cause of economic fluctuations. D) technology shocks as a cause of economic fluctuations.
Refer to Table 9-19. Looking at the table above, what is the approximate rate of growth of real average hourly earnings from 2014 to 2015?
A) 15% B) 4.4% C) -1.5% D) -4.8%
One explanation for the fall in the value of the U.S. dollar since 2001is
a. the mix of an tight fiscal/tight monetary policy over the period. b. the relative weakness of the U.S. economy over the period. c. a higher degree of accommodation of supply shocks in the United States relative to our trading partners. d. the disintegration of the Bretton Woods system during these years.
The unemployment rate for blacks is generally ___ the unemployment rate experienced by whites.
Fill in the blank(s) with the appropriate word(s).