Refer to Table 2-14. If the two countries specialize and trade, who should export motorcycles?
A) There is no basis for trade between the two countries.
B) They should both be importing motorcycles.
C) Scotland
D) Ireland
C
Economics
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According to the aggregate expenditure model, when autonomous expenditure increases, equilibrium expenditure
A) increases by an equal amount. B) does not change because autonomous expenditures has no effect on equilibrium expenditure. C) does not change because only induced expenditures increase equilibrium expenditure. D) increases by a smaller amount. E) increases by a larger amount.
Economics
Becky holds $30,000 as money. After a year during which inflation was 5 percent a year, the inflation tax over that year was
A) $1,000. B) $1,500. C) $500. D) $5. E) $3,000.
Economics