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Author Question: Because the United States is the largest economy in the world and can produce anything it needs ... (Read 134 times)

michelleunicorn

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on: Jun 29, 2018
Because the United States is the largest economy in the world and can produce anything it needs domestically, there are no gains from trade for the United States. Is the previous statement correct or incorrect?
 
  What will be an ideal response?

Question 2

In the loanable funds market, a shortage of loanable funds occurs when the
 
  A) supply of loanable funds exceeds demand for loanable funds.
  B) quantity of loanable funds supplied exceeds the quantity of loanable funds demanded.
  C) demand for loanable funds exceeds supply of loanable funds.
  D) supply of loanable funds curve shifts rightward.
  E) quantity of loanable funds demanded exceeds the quantity of loanable funds supplied.


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alexanderhamilton

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is incorrect. The United States, like any other nation, gains from trade when it specializes according to comparative advantage.

Answer to Question 2

E


michelleunicorn

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

kthug

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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