A negative supply shock causes stagflation in the short run

Nations would gain from trade if a(n) _________ exists

a. absolute advantage b. exchange rate c. specialization d. comparative advantage e. terms of trade

When a regulator is concerned about pleasing different groups in order to keep employed, this is known as the

A) share-the-gains, share-the-pains theory. B) regulatory hypothesis. C) capture hypothesis. D) creative theory.