Which of the following is NOT one of the common explanations given for the U.S. trade deficit?
A. Other countries subsidize their exports.
B. The U.S. government has a large budget deficit.
C. The United States is a wealthy, stable country, making it attractive for loans from other countries.
D. U.S. income tax rates are high compared to those in other countries.
Answer: D
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Explain what developed countries can do to respond constructively to the environmental damage being done in developing countries
What will be an ideal response?
Some countries intentionally aim for a low standard of living, high rates of unemployment and inflation, or an unsustainable trade imbalance within their economies.
Select whether the statement is true or false. A. True B. False
What is the shape of the AS in the short run and the long run?
A. AS is relatively flat in both the short and long runs. B. AS is relatively flat in the short run but steeper in the long run. C. AS is relatively steep in both the short and long runs. D. AS is relatively steep in the short run but flatter in the long run.
Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was and eight years later was
A) $50,000; $2 million B) $2 million; $2 million C) $2 million; $3 million D) $50,000; $50,000