Table 3-13 -Refer to Table 3-13. If the Two Countries Specialize and Two

question 167

Short Answer

Table 3-13

-Refer to Table 3-13. If the two countries specialize and trade with each other, which country will import radios?

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Definitions:

Employment Act

A 1946 United States federal law whose main purpose is to lay the responsibility of economic stability of inflation and unemployment onto the federal government.

Signing Statement

A written remark issued by the President of the United States upon signing legislation; it may outline the president's interpretation of the law or pose objections to specific provisions.

National Security Council (NSC)

A federal agency responsible for advising the President on national security and foreign policy matters.

Advisers (CEA)

Members of the Council of Economic Advisers, a group of economists who advise the President of the United States on economic policy.