The mercantilism policy failed to generate gains from trade for countries which adopted it because of:
a. increases in consumer spending
b. high levels of federal debt.
c. supply-side shocks from the oil-exporting countries.
d. runaway inflation in the U.S.
e. retaliations from other countries.
e
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Which of the following is an example of an activity that creates an external cost?
i. a smoker emitting second-hand smoke ii. sulfur emitting from a smoke stack iii. throwing garbage on the roadside A) i only B) i and ii C) iii only D) ii and iii E) i, ii, and iii
The long run is a period long enough so that one of the firm’s commitments ends.
Answer the following statement true (T) or false (F)
If a German firm buys goods from a U.S. firm with dollars it obtains by exchanging euros for dollars, both U.S. net exports and U.S. net capital outflow increase
a. True b. False Indicate whether the statement is true or false
If the Fed lowers the reserve requirement from 15 percent to 13 percent, the result will be a ______.
a. major increase in the money supply b. major decrease in the money supply c. minor increase in the money supply d. minor decrease in the money supply