________ is the largest international debtor in the world
A) Brazil
B) Mexico
C) Italy
D) The United States
D
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A firm's production function is the relationship between:
A) the inputs employed by the firm and the resulting costs of production. B) the factors of production and the resulting outputs of the production process. C) the demand for a firm's output and the quantity it is able to produce with available resources. D) the firm's production costs and the amount of revenue it receives from the sale of its output.
The percentage of income that Americans save each year ________
A) is much higher than the percentage the Chinese citizens save B) is higher than the saving rate of most industrialized countries C) is lower than the saving rate of most industrialized countries D) increased by a factor of five every year since the 1970s E) none of the above
Research by Warburton, and more recently Miron and Zweibel on alcohol consumption during and after prohibition indicates that:
a. the demand for alcohol is fairly price inelastic. b. the demand for alcohol is fairly income inelastic. c. the demand for alcohol is fairly price elastic. d. the demand for alcohol has a price elasticity of zero.
Which statement is true?
A. Until 1971, the U.S. ran a trade deficit virtually every year of the 20th century. B. The U.S. ran trade surpluses for most of the 19th century. C. In the 1920s, the U.S. flooded the rest of the world with consumer goods such as Model T Fords, radios and waffle irons as our trade surpluses increased. D. Until after WWII most of U.S. exports were agricultural products, such as cotton and grain sent to Europe.