Which of the following statements, in the context of U.S. exports, is true?
a. The U.S. exports products produced in the low wage industries.
b. Primary products account for the largest share of U.S. exports to developed nations.
c. The U.S. mainly exports labor intensive goods.
d. Most U.S. exports are produced in high-wage industries.
e. A bulk of U.S. exports to developing nations comprise of perishable commodities.
d
You might also like to view...
Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the labor force in this economy?
A. 200 million B. 800 million C. 80 million D. 1.0 billion
Intel and AMD are a duopoly that produces CPU chips. Intel and AMD can conduct R&D or they cannot conduct R&D. The table above shows the payoff matrix for the two firms. The numbers are millions of dollars of profit
The Nash equilibrium is for Intel to ________ and for AMD to ________. A) conduct R&D; conduct R&D B) conduct R&D; not conduct R&D C) not conduct R&D; conduct R&D D) not conduct R&D; not conduct R&D E) conduct R&D; either conduct R&D or not conduct R&D, the equilibrium could be either choice for AMD
Perfectly competitive firms are earning economic profits at a market price of $12 and an average total cost of $10. If new firms enter and do not affect the cost for all firms, the market price will ________ until it reaches ________.
A) increase; $16 B) decrease; $10 C) decrease; $11 D) increase; $13
The tax revenues of federal, state, and local governments have different sources, in that the federal government relies primarily on:
A. excise and property taxes; state and local governments rely on sales taxes. B. sales taxes; state and local governments rely on excise and property taxes. C. sales and property taxes; state and local governments rely to a greater extent on income taxes. D. income taxes; state and local governments rely to a greater extent on sales and property taxes.