Which statement is true?
A. Since the early 1990s the U.S. trade deficit has risen every year.
B. Net exports has always been positive.
C. The U.S. exports more services than merchandise (in terms of dollars).
D. The U.S. balance of trade was positive for most of the 20th century.
D. The U.S. balance of trade was positive for most of the 20th century.
You might also like to view...
A change in ________ creates a movement along the aggregate demand curve, while a change in ________ shifts the aggregate demand curve
A) expected profits; tax rates B) the price level; government expenditures C) foreign income; the foreign exchange rate D) real wealth; human capital
If a $1 increase in price leads to a 3-unit decrease in quantity demanded, then demand must be elastic
a. True b. False
A new major league baseball expansion team is moving to your town. It will inject spending worth $40 million into your local economy initially. The Chamber of Commerce predicts that this will generate a total of $500 million in additional income for your town. The team owners think that this is an underestimate. What do you need to know to figure out who is right? Explain
When a firm exits a monopolistically competitive market, the individual demand curves faced by all remaining firms in that market will
a. shift in a direction that is unpredictable without further information. b. shift to the right. c. shift to the left. d. remain unchanged. It is the supply curve that will shift.