Which of the following may NOT serve as a possible chain reaction for either fiscal or monetary policy?
A) G Y C Y C....
B) T Y C Y C....
C) M i I Y C....
D) M i I Y C....
Question 2
If a nation has no absolute advantage, then it
A) cannot gain from trade.
B) still gains from trade.
C) can only gain from trade if it raises its productivity levels.
D) can only gain from trade if it produces outside its production possibilities curve.