When a country opens up to free trade
A) winners and losers are created.
B) comparative advantage dictates that the country focus on production of some goods and services at the expense of others.
C) the gains outweigh the losses.
D) All of the above.
D
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If the currency drain ratio is zero, which of the following situations leads to the greatest total increase in the quantity of money?
A) an increase in the monetary base of $250,000 when the desired reserve ratio is 15 percent B) an increase in the monetary base of $100,000 when the desired reserve ratio is 5 percent C) an increase in the monetary base of $120,000 when the desired reserve ratio is 10 percent D) an increase in the monetary base of $100,000 when the desired reserve ratio is 50 percent E) an increase in the monetary base of $200,000 when the desired reserve ratio is 20 percent
Comment on the following statement: "A firm with market power is able to charge any price it likes."
What will be an ideal response?