Which of the following phrases best describes the Articles of Confederation?
A. A federation of dependent colonies
B. A loose league of friendship between independent states and the national government
C. A unitary system of states
D. A union of intertwined states
Answer: B. A loose league of friendship between independent states and the national government
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Which of the following economists argued that the state must play an active role in the economy to boost aggregate demand?
a. Paul Rosenstein-Rodan b. Albert Hirschman c. Milton Friedman d. John Maynard Keynes
How does foreign direct investment compare with indirect portfolio investment?
A. Foreign direct investment involves investments such as owning a factory, company, or real estate in a foreign country, whereas indirect portfolio investment involves such things as buying stocks and bonds or making loans to a foreign company. B. Foreign direct investment involves investments such as owning a factory, company, or real estate in a foreign country, whereas indirect portfolio investment involves such things as taking loans from a foreign company. C. Foreign direct investment involves actions such as trading in the currency of a foreign country, whereas indirect portfolio investment involves such things as buying stocks and bonds or making loans to a foreign company. D. Foreign direct investment involves making loans to a foreign company, whereas indirect portfolio investment involves taking loans from a foreign company.