Which of the following is true of U.S. net exports prior to the 1960s?
a. Since most of the oil needs of the U.S. were met through imports, imports exceeded exports prior to the 1960s in the U.S.
b. Prior to the 1960s, exports from the U.S. more or less equalled imports into the U.S.
c. The U.S. was running a trade surplus prior to the 1960s.
d. Prior to the 1960s, the U.S. ran twin deficits- both a current account deficit as well as a budget deficit.
e. Since the U.S. dollar was overvalued prior to the 1960s, the U.S. neither exported nor imported any goods and services.
c
You might also like to view...
During normal times, the multiplier effect of an increase in government spending financed by taxes will be
a. strengthened, if the additional spending flows into sectors of the economy where the unemployment rates are low. b. weakened by an offsetting reduction in spending due to the higher taxes. c. unaffected, as long as the higher taxes are in the future. d. strengthened, if corporate tax rates are increased and personal tax rates remain unchanged.
Suppose that Jessica has a fixed income of $100 per month, which she spends entirely on movies and paperback books. The price of movies is $5 and the price of paperback books is $10. Which of the following combinations is not on her budget line?
A. 5 paperback books and 10 movies B. 10 paperback books and 0 movies C. 3 paperback books and 14 movies D. 8 paperback books and 5 movies
Which of the following variables is likely to require seasonal adjustment?
A. Unemployment rates B. Food Prices C. Housing starts D. All of these require seasonal adjustment
The figure above shows the market for college education in the United States. The marginal external benefit associated with educating 14 million students is ________ per student per year
A) $16,000 B) $13,000 C) $11,000 D) $5,000 E) $7,000