U.S. exports:
A. have tended to decrease over time as a percentage of GDP.
B. constitute a relatively low share of GDP compared to most other nations.
C. make up about 12% of GDP.
D. Both A and B are true.
B. constitute a relatively low share of GDP compared to most other nations.
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Debits (negatives) in the current account of the balance of payments accounts include
a. imports of goods. b. exports of services. c. transfers received from other countries. d. purchases of U.S. government bonds by foreigners. e. all of the above.
An industry with a Herfindahl-Hirschman index of 1,000 would have ____ firm(s).
A. 1 B. 10 C. 100 D. 1,000
One of the two criteria for a resource to be considered capital is that it must:
A) occur naturally. B) be part of a factory or building. C) be a skill or talent possessed by a person. D) be possible to use it to produce other goods and services.
Given a consumption function of C = $25 + 0.75YD, the average propensity to consume equals 1 when disposable income equals
A. $75. B. $25. C. $100. D. -$300.