For many developing countries, natural resources or agricultural commodities make up a ________ share of exports
A) large
B) moderate
C) nonexistent
D) small
E) insubstantial
A
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Due to a recession, Hostess Bakeries found that the demand for its products decreased. The demand for products ________ the demand for bakers and ________ the equilibrium wage rate paid to bakers
A) increased; raised B) decreased; raised C) increased; lowered D) decreased; lowered
For many years the U.S. government imposed quotas on cheap, Middle Eastern oil imports. The U.S. consumer consequently paid $3 billion more per year for oil products. A likely rationale for such a policy is
a. people in the oil industry deserved the transfer. b. conservation. c. one cannot be dependent on foreign supplies of so crucial a resource. d. American oil was of higher quality and deserved a higher price.
Some economists believe that if Greece had its own currency, it would not have been as vulnerable to a financial crisis as was the case with being in the Eurozone.
Answer the following statement true (T) or false (F)
Your textbook refers to a "basket" of currencies. What is it?
a. a random selection of currencies b. currencies that are low-valued and unstable c. currencies that represent the average increase in value for all currencies d. currencies most used by the nation in its trade and other transactions, weighted by their importance