In the past, when the United States enjoyed a continuing trade surplus, wages in the United States
a. were much lower than wages in countries that imported U.S. products.
b. were much higher than wages in countries that imported U.S. products.
c. were roughly the same as wages in countries that imported U.S. products.
d. fell throughout that period, enabling the continuing trade surplus.
e. rose throughout that period, ending the trade surplus.
b
You might also like to view...
In the long run, in a monopolistically competitive market, price will be
A) equal to MR. B) equal to MC. C) greater ATC. D) equal to ATC.
If uncertainty causes commercial banks to increase their holdings of excess reserves, other things constant, this will
a. reduce the money supply during a period of inflation and increase it during a recession. b. reduce the size of the deposit expansion multiplier. c. increase the size of deposit expansion multiplier. d. reduce the size of the deposit expansion multiplier during a period of inflation and increase it during a recession.
If the demand curve facing a monopolist shifts, then the monopolist's:
A. marginal revenue curve and profit-maximizing level of output will change. B. marginal revenue curve will change, but its profit-maximizing level of output will not. C. marginal revenue curve will not change, but its profit-maximizing level of output will. D. total cost curve will change, but its variable cost curve will not.
The equation of exchange states that
A) saving equals investment. B) gross domestic product equals the money supply multiplied by its velocity. C) increases in money supply cause decreases in velocity. D) increases in money supply cause increases in velocity.