Contractionary monetary policy causes a ________ the MP curve and a ________ the aggregate demand curve
A) movement to the right along; shift to the right of
B) downward shift of; shift to the right of
C) movement to the left along; movement up along
D) upward shift of; shift to the left of
D
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Two goods belonging to the same market have cross elasticities less than three
Indicate whether the statement is true or false
The average height of a professional basketball player is 6 feet, 2 inches while the average height of a professional jockey is 5 feet. If we translate this information into the context and concepts associated with international trade, we can say that
a. each has an absolute advantage over the other in their professional sport b. because of the height advantage, the basketball player can do both better than the jockey, but has a comparative advantage in basketball c. because of the height disadvantage, the jockey has no absolute advantage d. basketball is a more efficient sport than horse racing e. racing is a more efficient sport than basketball