What is a recession? How did the Great Recession of 2007–2009 compare with other recessions since 1970?  

  Many people are concerned about foreign ownership of U.S. debt. The concern stems from a fear that  

  The real interest rate  

  When John buys new tires for his car, it __________ because the tires are __________ goods. When Ford Motor Co. buys tires to put on new cars, it __________ because the tires are __________ goods.  

  Countries engaged in international trade will specialize in production based on  

  The interest rate is  

  A limit imposed on the volume of total imports of a particular good is known as a(n)  

  An improvement in technology  

  Which of the following international organizations founded in 1995 facilitates trade disputes between nations?  

Two goods that are used in place of each other are called ________ goods.