If US workers can produce everything in less time than Mexican workers, it is not possible for the US to gain from trade with Mexico

If a $1 million open market purchase by the Fed generates a new deposit at a bank that immediately causes the bank's reserves held at the Fed to increase by $1 million, then the T-account effects are that the bank's assets and liabilities ________ by

$1 million and that the Fed's assets and liabilities ________ by $1 million. A) increase; decline B) decline; decline C) increase; increase D) decline; increase

If two bundles of goods give a consumer the same satisfaction, the consumer must be

a. on her budget constraint. b. in a position of equilibrium. c. indifferent between the bundles. d. Both a and c are correct.