Before 1970 the United States generally had a trade ________ and since 1970 the United States has generally run a trade ________.
A. deficit; deficit
B. deficit; surplus
C. surplus; deficit
D. surplus; surplus
Answer: C
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The government of Lithasia ran a budget deficit of $60,000 in 2014. If the tax revenue of the Lithasian government in 2014 was $320,000,000, how much did the government spend in that year?
A) $319,940,000 B) $1,060,000 C) $320,060,000 D) $49,000,000
Figure 5-9
In Figure 5-9, the consumer’s marginal rate of substitution at his optimum choice of X and Y is
A. ?1. B. 16. C. 8. D. ?8.
Members of the Federal Reserve Board of Governors are appointed for one fourteen-year term:
A. In an effort to isolate the Fed from political pressures. B. So that Fed decisions will be based on political considerations. C. To give Congress better control over the money supply. D. In an effort to make the Fed responsive to voters.
Proponents of economic growth say that pollution:
A. declines as a country moves from agriculture to industry. B. is an inevitable by-product of growth. C. occurs not because of growth, but because common properties are treated as free goods. D. is detrimental to economic growth.