Which of the following countries receives the largest share of U.S. exports?
a. Mexico
b. Germany
c. Japan
d. Canada
e. United Kingdom
d
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Black markets can occur when price ceilings are imposed in a market. Which of the following explains why sellers participate in a black market?
A) Sellers are able to sell the product for a higher than legal price. B) There are more buyers in the black market than in the legal market. C) The demand is perfectly elastic in a black market. D) The demand is perfectly inelastic in a black market. E) The surplus in the legal market means that many sellers can sell their product in the black market.
If the demand curve for a good is unit elastic, then total expenditure will _____ as the price of the good decreases.
A. remain constant B. fall C. rise D. go to zero
Federal income tax brackets are not currently indexed for inflation
a. True b. False
Inward-oriented development strategies focus on exports of goods and services
a. True b. False Indicate whether the statement is true or false