Author Question: In an open economy, we know that individuals must choose between which of the following? A) ... (Read 37 times)

cdr_15 · **on:** Jun 30, 2018

In an open economy, we know that individuals must choose between which of the following?

A) domestic bonds and foreign currency
B) foreign goods and domestic currency
C) domestic and foreign bonds
D) domestic goods and foreign currency
E) none of the above

Question 2

Research by Richard Layard indicates that an increase in a country's level of output per capita will

A) always increase happiness in that country.
B) always decrease happiness in that country.
C) generally have no effect on happiness in that country.
D) increase happiness in that country if output per capita is relatively low.