The ________ in a country's GDP during a recession is smaller if wages are ________
A) fall; rigid B) increase; rigid C) fall; flexible D) increase; flexible
C
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Refer to the figure below. If the Federal Reserve wants to lower the interest rate to 3%, it must ________ the money supply to ________. 
A. decrease; 300 B. increase; 900 C. increase; 700 D. increase; 300
Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. For trade to be mutually beneficial for both countries, the terms of trade will be such that 1 ton of soybeans will exchange for
A. Less than 3 computers. B. Zero computers. C. More than 3 computers but less than 5. D. More than 1/5 of a computer but less than 1/3.
If a firm requires a standardized raw material to produce its output, ________ is often the least expensive option to purchase the raw materials.
A) backward integration B) forward integration C) divestiture D) the spot market
Answer the following questions true (T) or false (F)
1. In a market with positive externalities, the market equilibrium price will be less than the efficient equilibrium price. 2. Health insurance companies impose deductibles on policies and co-payments on claims to reduce the problem of adverse selection. 3. Adverse selection is a situation in which one party to an economic transaction has less information than the other party.