In discussing trade, it is ____ that matters rather than ____
a. absolute advantage: elastic advantage
b. comparative advantage; absolute advantage
c. entire advantage; comparative advantage
d. elastic advantage; entire advantage
e. declarative advantage; absolute advantage
b
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Which of the following is considered contractionary fiscal policy?
A) Congress increases the income tax rate. B) Congress increases defense spending. C) Legislation removes a college tuition deduction from federal income taxes. D) The New Jersey legislature cuts highway spending to balance its budget.
Every month, Carlos deposits $300 into an interest-bearing account managed by his broker, Megan. Megan pools the funds in Carlos’s account with funds from the accounts of other clients and invests them in short-term securities. Which statement is also true about this situation?
a. This is an example of a savings deposit account. b. This is an example of a demand deposit account. c. Carlos is allowed to write checks against his account, within certain limitations. d. Due to the account type, the funds Carlos has deposited have a low level of liquidity.