1. Mercantilists believed that
A. countries should attempt to balance exports and imports.
B. Governments should not be involved in international trade
C. International trade is a zero-sum game.
D. A country could maximize its gains fro
6. In the price-specie-flow doctrine, a deficit country will _ gold, and this
gold flow will ultimately lead to _ in the deficit countrys exports.
* b. lose; an increase
7. In the Mercantilist view of international trade (in a two-country world)
GDP: Measuring Total
Production and Income
The study of how
households and businesses make choices, how
they interact in markets, and how the government
attempts to influence their choices.
The study of the
economy as a whole