The United States is capable of producing many goods and services that it imports, but it does not because
A. We have lost those skilled workers.
B. We can export goods that we specialize in.
C. We produce those goods more cheaply if we make them ourselves.
D. We can import those goods at a lower opportunity cost than if we make them ourselves.
Answer: D
You might also like to view...
Suppose that the European Central Bank enacts expansionary policy. Everything else held constant, this will cause the demand for U.S. assets to ________ and the U.S. dollar to ________
A) increase; appreciate B) decrease; appreciate C) increase; depreciate D) decrease; depreciate
When the U.S. economy expands, foreign investment in and immigration to the U.S. usually contracts
Indicate whether the statement is true or false
The percentage of births to unwed mothers has been rising at a faster rate for whites than for blacks since 1960
Indicate whether the statement is true or false
Assume a monopolistically competitive firm encounters a decrease in average variable cost at all output levels.We would expect:
a. The price to fall and output to rise b. The price to fall and output to fall c. The price to rise and output to rise d. The price to rise and output to fall