It is ___________ for a country to have a very high level of trade while also having a near-balance between the value of exports and imports.
a. possible
b. impossible
c. likely
d. unlikely
a. possible
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Which of the following may be explained by adverse selection?
a. When banks raise the interest rate on loans, high-risk applicants leave the market. b. When health insurance companies decrease insurance charges but increase deductibles, less healthy people are more willing to purchase insurance. c. As the cost of insurance rises, low-risk applicants reduce their coverage. d. Products are sold at prices that reflect their true value. e. Loan companies do not require down payments.
A monopolist is able to choose whatever price that it wishes and is only constrained by its greed
a. True b. False Indicate whether the statement is true or false
A change in the exchange rate for a country's currency alters the prices of
A. Exports only. B. Imports only. C. Both exports and imports. D. Only domestic goods and services.
Suppose the consumer price index (CPI) for Year X is 130. This means the average price of goods and services is:
A. currently $130. B. 130 percent more in Year X than in the base year. C. 130 percent more in the base year than in Year X. D. priced at 30 percent more in Year X than in the base year.