The sale of each iPhone in the U.S. counts as an:
A. import, because they are assembled in Mexico.
B. export, because they are produced in the U.S.
C. export, because they are assembled in China.
D. import, because they are assembled in China.
Answer: D
You might also like to view...
The IS-LM model tells us that output remains constant when a tax cut is combined with ________ in the money supply, with the interest rate ________ its initial level
A) an increase, rising above B) an increase, falling below C) a decrease, rising above D) a decrease, falling below
What is the inflation rate using base year 1?
A) 10%. B) 15%. C) 20%. D) 25%.
Under flexible exchange rates, the exchange rate is set by
A) the International Monetary Fund. B) the U.S. Federal Reserve's Board of Governors. C) the intersection of demand and supply curves in the currency markets. D) negotiations among central banks of the major industrial powers.
Explain and give examples of other forms of barriers to free trade besides tariffs and quotas