A country that does not engage in international trade is likely to face a problem because:
a. some industries are too small to be efficient if restricted to their domestic markets alone.
b. it cannot produce along its production possibilities frontier
c. domestic producers face a fluctuating demand for their products.
d. it cannot consume at a point below its production possibilities frontier.
a
You might also like to view...
The federal government of the United States has ________
A) proven itself unable to significantly influence U.S. home ownership B) has been able to increase the volume of home ownership in the U.S. C) proven itself able to effectively control monetary policy D) has been unable to increase the volume of government spending since WWII
In response to the financial crisis and the Great Recession, the Fed took the following actions, except:
A. Reduced the federal funds rate to practically zero B. Lowered the required reserve ratio C. Initiated a few rounds of quantitative easing D. Engaged in a policy of forward commitment