Which of the following would be cures for the U.S. trade deficit?
A. Americans saving less and spending more
B. A severe recession in Europe and Asia
C. A severe recession in the United States
D. A tax cut
E. All of these responses are correct.
Answer: C
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As of 2008, with which of the following countries did the U.S. not have a preferential trade agreement?
A) Mexico. B) Canada. C) Russia. D) Israel.
The size of the reduction in quantity of labor hired by a firm due to an increase in the wage rate depends upon all of the following except:
a. what percentage of total costs are made up of labor costs. b. how much quantity demanded in the output market will be reduced by a higher price. c. the capital to labor ratio before the wage increase. d. how easily other inputs can be substituted for labor.
Figure 7-5
Which of the curves in Figure 7-5 could be a firm's average fixed cost curve?
a.
(a)
b.
(b)
c.
(c)
d.
(d)
Initially, demand-pull inflation will...
What will be an ideal response?