What is the level of openness of the United States economy, based on 2016 data?
A. 13.3 percent
B. 23.1 percent
C. 52.0 percent
D. 63.9 percent
E. 77.8 percent
Answer: A
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If country A is importing good x from country B where x is produced along a perfectly inelastic supply curve, then country B will suffer the entire deadweight loss from any tariff imposed on imports to country A.
Answer the following statement true (T) or false (F)
Which combination of factors would lead to large price and total revenue changes?
A) inelastic demand for a product and large swings in supply B) elastic demand for a product and small swings in supply C) inelastic demand for a product and constant supply D) a and c E) none of the above
Nominal anchors limit overshooting by:
a. fixing exchange rates. b. distinguishing between permanent and temporary changes. c. slowing down expectations formation. d. limiting temporary changes to exchange rates.
Figure 9-5
?
In Figure 9-5, if the second round effect of an increase in autonomous spending of $100,000 is $75,000, then the multiplier is
A. 400,000. B. 6. C. 4. D. 4/5.