The graph below shows the U.S. market for wheat. Alt Text – market for wheat When there no international trade, the U.S. price of wheat is [price] per ton and the U.S. equilibrium quantity is [quant] thousands of tons of wheat. Suppose the economy opens up to trade. With international trade, the price of wheat in the United States is [pricetrade] per ton and the United States [trade] [tradeq] thousands of tons of wheat.

Fiscal policy includes

If you shop for a car online and compare car prices across dealerships, money is functioning as a

A decrease in the value of a currency in terms of other currencies is known as

Tariffs and import quotas differ in that

When the Fed wants to undertake open market operations, it

Which of the following is an example of using money as a store of value?

What is the dumping argument for protection from international trade?

By definition, currency depreciation occurs when the value of

During a recession, cyclical unemployment ________ and real GDP ________.