A positive effect of opening up countries to international trade is that it results in the creation of supporting industries that provide resources to the industry in which trade takes place

Which of the following institutions within the Federal Reserve System determines how many government securities the Fed should buy or sell on a given day?

A) the Federal Reserve Bank of Chicago's Board of Trade. B) the Board of Governors. C) Federal Advisory Committee. D) the Federal Reserve Bank of New York's Trading Desk.

Which of the following would not shift the supply curve?

A) A rise in the price of the good B) A fall in the expected future price of the good C) A rise in the costs of production of the good D) A negative supply shock that destroys a portion of output