The trade-to-GDP ratio for a nation that had $600 million in exports, $400 million in imports, and GDP of $2,000 million would be
A) 0.1.
B) 0.2.
C) 0.5.
D) -0.1.
C
You might also like to view...
The inflation rate is calculated
a. by determining the change in the price index from the preceding period. b. by adding up the price increases of all goods and services. c. by computing a simple average of the price increases for all goods and services. d. by determining the percentage increase in the price index from the preceding period.
Cite an advantage and a disadvantage for command-and-control vs. incentive-based approaches. Then do the same for environmental taxes vs. emissions trading.
What will be an ideal response?
A competitive firm operating in the short run is producing at the output level at which ATC is at a minimum. If ATC = $8 and MR = $9, in order to maximize profits (or minimize losses), this firm should:
a. reduce output. b. increase output. Correct c. shut down. d. do nothing; the firm is already maximizing profits.
What is a long-run supply curve?
What will be an ideal response?