When free international trade takes place, in accordance with a country's comparative advantage,
a. producers in export industries are likely to favor it because they sell a larger quantity at identical prices
b. producers in export industries are likely to oppose it because they sell a larger quantity, which lowers prices in accordance with the laws of supply and demand
c. producers in import industries are likely to favor it because they sell a larger quantity at only slightly depressed prices
d. export industry workers are likely to favor it, import industry workers are likely to hate it
e. consumers are likely to be of two minds: they hate the more expensive import goods, but they love the cheaper export goods
D
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In a simplified banking system subject to a 25 percent required reserve ratio, a $1,000 open-market purchase by the Fed would cause the money supply to:
a. increase by $1,000 b. decrease by $1,000. c. decrease by $4,000 d. increase by $4,000.
When two variables move in opposite directions, the curve relating them is
a. upward sloping, and we say the variables are positively related. b. upward sloping, and we say the variables are negatively related. c. downward sloping, and we say the variables are positively related. d. downward sloping, and we say the variables are negatively related.