A person who opposes the deliberate use of fiscal and monetary policies is called a(n)

The government buts new weapons systems. The manufacturers of weapons pay their employees. The employees spend this money on goods and services. The firms from which the employees buy the goods and services pay their employees. This sequence of events illustrates

a) the accelerator effect. b) the multiplier effect. c) the chain effect. d) the bandwagon effect.

If a nation has no absolute advantage, then it

A) cannot gain from trade. B) still gains from trade. C) can only gain from trade if it raises its productivity levels. D) can only gain from trade if it reduces wages paid. E) can only gain from trade if it produces outside its production possibilities curve.