As a percentage of GDP (total output), U.S. exports are:
A. about 20 percent.
B. lower than in some other industrial countries, including Germany and Canada.
C. less today than they were in the 1970s.
D. the highest in the world.
B. lower than in some other industrial countries, including Germany and Canada.
You might also like to view...
The Consumer Price Index market basket contains
A) the goods and services that the economists working for the BLS believes consumers should buy. B) the U.S.-produced goods and services purchased by an average urban household. C) the minimal dietary requirements of an average urban household. D) the goods and services purchased by an average urban household. E) the ideal calorie intake of each member of an average urban household.
The above table gives information for the nation of North Hampton. There are no imports to or exports from North Hampton
a. Find aggregate planned expenditure for each level of real GDP. b. What is the equilibrium level of real GDP?
The average product curve
A) initially falls then rises. B) rises as average variable cost increases. C) initially rises and then falls. D) shows how productivity changes as output changes. E) intersects the marginal cost curve when the average product curve is at its maximum.
What explains the sharply divergent long-run growth patterns?
What will be an ideal response?