If a country has a trade deficit of $50 billion, which of the following can be true?

A. The country's exports are $110 billion, and its imports are $160 billion.
B. The country's exports are $150 billion, and its imports are $100 billion.
C. The country's exports are $150 billion, and its imports are $60 billion.
D. The country's exports are $100 billion, and its imports are $50 billion.


Answer: A

Economics

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"If the United States enters a war with Iran, U.S. output will go down." This statement is an example of

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A positive cross-price elasticity between two goods implies that the two goods are substitutes.

Answer the following statement true (T) or false (F)

Economics