The increase in welfare in both countries that results from specialization and trade is called:

Use the saving and investment equation to explain why the United States experienced large current account deficits in the late 1990s

What will be an ideal response?

An index constructed by Alberto Alesina and Lawrence Summers measuring central bank independence for a sample of industrialized countries during the late 1980s notes that the a. most countries have completely independent central banks. b. countries with less independent central banks had lower inflation rates. c. the most independent central banks were those of Switzerland and Germany,

followed by theU.S. Federal Reserve. d. there has been a trend away from central bank independence among countries e. both c and d