When U.S. prices are rising relative to those in the rest of the world
A. U.S. imports tend to decrease.
B. U.S. exports tend to decrease.
C. U.S. exports tend to increase.
D. none of the above
Answer: B
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Demand for a given good is elastic, which means that the percentage change in __________ is greater than the percentage change in __________.
Fill in the blank(s) with correct word.
A graphical tool that provides a visual representation of the consequences of alternative strategies is a:
A. game tree. B. network. C. strategy set. D. decision node.
Which of the following variables can be used to measure labor productivity?
A. number of workers B. number of labor hours C. real GDP D. all of these
Dumping typically occurs because
A. the importing country has assessed significant tariffs. B. the exporting country usually is experiencing a recession and has excess production. C. the importing country is experiencing a recession. D. the exporting country raises its prices to increase profits.