If country A can produce both goods X and Y more efficiently, that is, with smaller absolute amounts of resources, than can country B:
A. mutually advantageous specialization and trade between A and B may still be possible.
B. we can conclude that A is an industrially advanced economy and B is a developing
economy.
C. it will necessarily be advantageous for B to import both X and Y from A.
D. then there is no possible basis for mutually advantageous specialization and trade between
A and B.
A. mutually advantageous specialization and trade between A and B may still be possible.
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Suppose the required reserve ratio is 8% and the Fed purchases $100 million worth of Treasury bills from Wells Fargo. By how much is Wells Fargo able to increase its loans?
A) $8 million B) $92 million C) $100 million D) $1.25 billion
Income in kind is defined as
A) income received in the form of a paycheck. B) payment for services in the form of cash. C) tips. D) income received in the form of goods and services.