Which of the following statements about U.S. exports and imports is true?
a. Exports comprise a higher percentage of GDP than imports do.
b. Quotas serve to keep the ratio of exports to imports constant.
c. Since 1960, exports and imports typically have not risen above 5% of GDP.
d. Since 1960, both exports and imports have grown as a percentage of GDP.
d. Since 1960, both exports and imports have grown as a percentage of GDP.
You might also like to view...
For each pair of items below determine which product would have the higher price elasticity of demand (in absolute value)
a. Insulin for a diabetic or aspirin for someone suffering a headache. b. A new Whirlpool 27 cu.ft. side-by-side refrigerator or electricity to power your all-electric home. c. A can of Red Bull or soft drinks in general.
Each and every point along a production possibilities curve represents an efficient output option for an economy
a. True b. False Indicate whether the statement is true or false
In his seminar on Organizational Economics, Professor Chang always uses study teams for presentation of outside research materials. He has found that three students per team tend to work well. Walking into a new class, he finds that registration has allowed 60 students to sign up. He decides to increase the team size from three to eight students. What problems can he expect to deal with during the semester?
What will be an ideal response?
The following depicts a normal-form game of price competition.Firm AFirm B??Low PriceHigh Price?Low Price0,025,-5?High Price-5,2510,10What is the maximum interest rate that can sustain collusion?
A. 33 percent B. 25 percent C. 66.7 percent D. 15 percent