If countries have similar factor endowments and productivities, their trade is likely to be interindustry

In the 1970s, nominal interest rates in the United States were quite high, while real rates were extremely low

Which group "wins" in this circumstance, lenders or borrowers? What might explain the willingness of the "losers" to accept disadvantageous loan terms?

Progressive income taxes are designed to

a. make the distribution of income less equal. b. leave unchanged the distribution of income. c. let the market determine the distribution of income after taxes. d. make the distribution of income more equal.