Which of the following statements is true?
A) Most of the leading exporting countries are large, high-income countries.
B) All sectors of the U.S. economy are affected equally by international trade.
C) Each year China exports about 50 percent of its wheat crop and 40 percent of its rice crop.
D) Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs.
A
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A downward-sloping demand curve suggests that consumers
A) buy less at lower prices. B) buy more at higher prices. C) plan to buy more at a given, lower price. D) ignore marginal benefits and only focus on the supply of a product.
A natural monopoly is likely to experience diseconomies of scale
Indicate whether the statement is true or false
If the number employed is 190 million, the working-age population is 230 million, and the number unemployed is 10 million, then the unemployment rate is
A) 5%. B) 5.2%. C) 8%. D) 10%. E) 50%.
The degree to which rent controls affect the market for apartments depends on
A. the number of years the rent control law has been in effect. B. the rules given within the law for rent increases. C. the intent of the lawmakers. D. both A) and B)