The basic proposition in international trade is that
A) trade is determined by absolute advantage.
B) in the long run, imports are paid for by exports.
C) everyone is made better off by free trade.
D) fair trade is more important than free trade.
B
Economics
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Unemployment that develops as old industries die off is known as ________
A) cyclical unemployment B) structural unemployment C) frictional unemployment D) voluntary unemployment
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A reduction in the required reserve ratio has the instant effect of:
a. Increasing excess reserves. b. Increasing bank shareholders' equity. c. Increasing bank reserves. d. All of the above are correct. e. None of the above is correct.
Economics