The inflation experienced in the United States during the late 1960s as a result of the spending on the Vietnam War is an example of:
a. hyperinflation

Discounting is a process of turning a stream of future returns into a present dollar equivalent

Indicate whether the statement is true or false

Which of the following best describes the comparative advantage of the two countries illustrated in Figure 35.1?

A. Japan has a comparative advantage in motorcycles, the United States in DVD players. B. Japan has a comparative advantage in both goods. C. The United States has a comparative advantage in both goods. D. Japan has a comparative advantage in DVD players, the United States in motorcycles.