Which of the following statements is false?
A) Within each country, some individuals are made better off as a result of international trade, but one of the countries will be worse off overall.
B) Although some individuals may not be made better off as a result of international trade, both countries may be made better off overall.
C) Each country as a whole is made better off as a result of international trade, but individuals within each country may be made worse off.
D) Not all individuals in both countries are made better off as a result of international trade.
A
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Another name for a shortage is
A) excess quantity supplied. B) excess quantity demanded. C) equilibrium. D) market clearing.
In the basic Keynesian model, the major determinant of consumption expenditures is:
a. the interest rate. b. inflation. c. investment. d. disposable income.