In a recession, the trade balance often improves because
a. service exports exceed manufactured good exports
b. banks sell depressed assets
c. fewer households can afford luxury imports
d. direct investment abroad declines
e. the capital account exceeds the current account
c
Economics
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Assuming all excess reserves are loaned out, currency holdings by the public are zero, and a reserve ratio of 20 percent, an initial deposit of $850 will lead to total deposits of
A) $425. B) $850. C) $4,250. D) $42,500.
Economics
Refer to Table 2-5. What is Finland's opportunity cost of producing one board foot of lumber?
A) 0.25 cell phones B) 4 cell phones C) 12 cell phones D) 16 cell phones
Economics