Refer to Table 18.1. After trade begins, ________ will specialize in the production of hats and ________ will specialize in the production of gloves

The Fed's use of the federal funds rate as an operating target in the 1970s resulted in

A) countercyclical monetary policy. B) too slow growth in M1 throughout the decade. C) procyclical monetary policy. D) too rapid growth in M1 throughout the decade.

In an economy without international trade, investment must equal ________ saving.

A. national B. public C. private D. life-cycle