If a country's merchandise exports exceed its merchandise imports it has a
A) trade surplus.
B) trade deficit.
C) current account surplus.
D) current account deficit.
A
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What does it mean for a person or nation to have a comparative advantage in producing a product?
What will be an ideal response?
According to the National Bureau of Economic Research, the United States has experienced ________ recessions since 1950
A) 4 B) 7 C) 10 D) 15
In the Friedman "Fooling Model" if P(e) is less than P then the labor supply curve in Figure 17-1 above
A) shifts leftward when workers realize their error. B) always shifts rightward. C) initially remains the same. D) Both A and C are correct.
The colonies traded internationally with regions other than the United Kingdom. They included all except
(a) Africa (b) China (c) West Indies (d) Southern Europe