Which of the following statements is true?
A) 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.
B) 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.
C) Although some individuals are made better off as a result of international trade, both countries may be made worse off overall.
D) All individuals in both countries are made better off as a result of international trade.
A
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A speculator who feels strongly that short rates will be falling over the next few years might want to be a __________ payer in a swap contract; if he is wrong there is __________ downside risk
A) fixed-rate; no B) fixed-rate; considerable C) floating-rate; no D) floating-rate; considerable
The price elasticity of demand for labor will be smaller, the
A) smaller is the price elasticity of demand for the final product. B) easier it is to employ substitute inputs in production. C) larger is the proportion of wage costs in the total cost of production. D) longer is the time period under examination.