Ultimately, tariffs ________ the ability of foreign countries to buy the domestic country's exports and therefore ________ wealth

Refer to Table 5.1. Hector has a comparative advantage in the production of

A) bracelets. B) tiaras. C) both products. D) neither product.

"Hawks" are economists who argue that:

a) the goal of full employment should take priority over the goal of low inflation. b) greater central bank action is needed in times of economic hardship. c) too much monetary policy can have inflationary effects. d) the Federal Reserve should be abolished.