A country that has a comparative advantage in producing capital goods will ________ a country that has a comparative advantage in consumption goods
A) reap all of the gains from trade when it trades with
B) grow slower than
C) reap fewer of the gains from trade when it trades with
D) specialize in producing capital goods and trade with
D
Economics
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New Keynesian economists believe that nominal wages and prices respond ________ to shocks, and classical economists believe that nominal wages and prices respond ________ to shocks
A) quickly; quickly B) quickly; slowly C) slowly; quickly D) slowly; slowly
Economics
Which of the following is most critical for the maintenance of an efficient and productive economy?
a. Money backed by gold or silver b. Steadily rising prices c. An unlimited and unregulated supply of money d. A properly functioning monetary system e. A well-organized barter system
Economics