Because industrial countries depend upon the less developed countries for their food and raw materials, the less-developed countries account for the majority of world trade

If people increase their expected rate of interest, the speculative demand for money curve will _____ and money supply will _____

a. shift downward, remain unchanged. b. shift upward; remain unchanged. c. not be affected; shifts upward. d. not be affected; not be affected.

Sumptuary taxes are often justified on the grounds that _____

a. bad activities should be discouraged b. the rich should pay more c. the poor should pay less d. merit goods need encouragement