Today, ________ of shoes sold in the United States are made overseas?
A) almost 75 percent B) 99 percent C) just over half D) about 25 percent
B
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The largest item on the liability side of the Federal Reserve's balance sheet is
A) commercial bank deposits. B) U.S. government securities. C) cash items in the process of collection. D) Federal Reserve notes outstanding.
Suppose Jim and Tom can both produce two goods: baseball bats and hockey sticks. Which of the following is not possible?
a. Jim has an absolute advantage in the production of baseball bats and in the production of hockey sticks. b. Jim has an absolute advantage in the production of baseball bats and a comparative advantage in the production of hockey sticks. c. Jim has an absolute advantage in the production of hockey sticks and a comparative advantage in the production of baseball bats. d. Jim has a comparative advantage in the production of baseball bats and in the production of hockey sticks.