Trade
A. allows a person to consume at a point outside his production possibilities frontier.
B. limits a person's ability to produce goods and services on her own.
C. must benefit both traders equally.
D. is based on absolute advantage.
Ans: A. allows a person to consume at a point outside his production possibilities frontier.
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A Lorenz curve shows the:
a. number of people in an economy living below the poverty line. b. percentage of children in an economy who are not receiving adequate nutrition. c. percentage of the economy's population benefiting from government spending programs. d. percentage of an economy's total income each part of the population receives. e. percentage of the population whose income is dependent on sales to foreign countries.
Expansionary monetary policy:
A. decreases the interest rate and increases the price level. B. decreases the interest rate and decreases the price level. C. increases the interest rate and increases the price level. D. increases the interest rate and decreases the price level.