To follow an outward-oriented strategy, a country that has scarce natural resources and abundant labor supplies should _____
a. export primary goods and import manufactured products
b. export manufactured goods and impose import restrictions on primary goods
c. export both primary and manufactured products
d. export primary goods and impose trade restrictions on manufactured goods
e. export manufactured products and import primary goods
e
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When many banks fail simultaneously, this is known as a
a. run on the bank b. depression c. recession d. banking panic e. Federal Reserve crisis
If the Bank of Japan buys yen to prevent the yen from appreciating,
a. it is probably also trying to profit from that operation b. it is probably also trying to maintain an interest rate target c. it is engaging in bilateral arbitrage d. it is engaging in a managed float e. it is wasting its time and effort