An economic boom in the United States will tend to cause booms in other countries because as U.S. GDP rises, U.S
a. tariffs will automatically fall.
b. exports will rise.
c. imports will rise.
d. exports will fall.
c
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A trigger strategy is one in which a player
A) cooperates in the current period if the other player cooperated in the previous period, but cheats in the current period only if the other player cheated in the previous period. B) cheats in the current period if the other player cooperated in the previous period, but cooperates in the current period if the other player cheated in the previous period. C) cooperates in the current period if the other player has always cooperated, but cheats forever if the other player ever cheats. D) cheats in the current period if the other player has always cheated, but cooperates forever if the other player has ever cooperated.
The simpler a production process is,
a. the greater the cost of production b. the greater the transaction cost of using markets c. the more likely a firm will use the market to organize production d. the more likely a firm will used centralized control to organize production e. the more likely that transaction costs increase by using centralized control of production
At a level of output equal to the economy's potential, the simple spending multiplier in the long run equals one
a. True b. False Indicate whether the statement is true or false
The price index that measures the prices of goods and services purchased by firms is called the:
A. producer price index. B. purchasing power index. C. consumer price index. D. retail sales index.