Which of the following was among the first events in the onset of the 2008 financial crisis?
a. The failure of Greece to meet its debt obligations
b. The failure of a major U.S. investment bank
c. The refusal of the IMF to lend money to Mexico
d. A significant decline in Chinese imports
b. The failure of a major U.S. investment bank
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What, according to Frankel, does the "new trade theory" show that the classical theory does not?
a. that gains from trade are only a one-time increase in real income b. the compounding effects of the spread of liberal economic ideology c. that gains from trade can be permanent and ongoing rather than static d. that targeted intervention in specific areas of the economy can be beneficial
The Founders envisioned a system in which the national government would have supreme authority over the state governments.
Answer the following statement true (T) or false (F)