Create an account
If the Fed sells more bonds to the public, then the money supply will:
Decrease and the aggregate demand curve will shift to the left.
The amount by which the value of imports exceeds the value of exports in a given time period is a:
Consumption possibilities refers to the:
Alternative combinations of goods and services that a country can consume.
Comparative advantage refers to a country's:
Ability to produce a specific good at a lower opportunity cost than another country.
If a country can produce rice with a lower opportunity cost than its trading partners, then it must have:
A comparative advantage in the production of rice.
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