Refer to Table 2-20. Thailand has a comparative advantage in the production of
A) wristwatches. B) rice. C) both products. D) neither product.
A
Economics
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Youland is hit by a recession. What will be the impact of a countercyclical policy on labor demand in Youland if nominal wages are downwardly rigid?
What will be an ideal response?
Economics
The reason we are willing to accept money with no intrinsic value is that
A) the money supply is backed by an equal amount of gold and silver. B) we have a fiduciary monetary system in which currency has both acceptability and predictability of value. C) the value of the money varies directly with changes in the price level. D) paper currency may be exchanged for full-bodied money.
Economics