Since 1975, the United States' balance of trade has been characterized as
a. favorable
b. unfavorable
c. highly volatile, that is, dramatic ups and downs (positives and negatives)
d. mostly favorable, but sometimes unfavorable
e. mostly unfavorable, but sometimes favorable
B
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Scarcity is only a temporary problem that a society can solve by promoting economic growth.
Answer the following statement true (T) or false (F)
The cartel consisting of Firm A and Firm B can become unstable if: a. the cost of production is identical for the two firms
b. the cost of production of Firm A is lower than that of Firm B. c. the cost of labor in the industry increases by 12 percent. d. both firms switch to a better method of production.
Refer to the graph showing the supply of books. A shift from S1 to S0 would most likely occur for what reason?
A. An increase in the cost of producing books B. A decrease in taxes levied on producers of books C. An increase in the number of suppliers in the market D. An increase in the price of books
Which of the following countries engages in a fixed exchange rate policy?
A. The U.S. B. Japan C. The United Kingdom D. China