Which of the following statements about the importance of trade to the U.S. economy is true?
A) Overall, about 80 percent of U.S. manufacturing jobs depend directly or indirectly on exports.
B) The United States is the second largest exporter in the world.
C) The U.S. economy is highly dependent on international trade for growth in its gross domestic product.
D) Since 1950, both exports and imports have steadily decreased as a fraction of U.S. gross domestic product.
B
You might also like to view...
Cartels rarely succeed for long because they find it difficult to
A) avoid losing the advantages from economics of scale. B) keep marginal costs high and marginal revenue low. C) keep members from offering discounts and new firms from entering. D) keep members from reducing output below the optimal level. E) prevent average cost from falling below marginal cost.
If the labor force of a country is 100 million, of which 80 million are employed, then the number of unemployed people is 30 million
a. True b. False Indicate whether the statement is true or false
List the two main functions performed by the Fed?
If the wage rate increases and firms in a perfectly competitive industry are hiring labor, then
A) the firms will quit using labor.
B) profits will increase.
C) market supply will decrease.
D) market price will decrease.