During the past 40 years, U.S. exports as a percent of GDP and U.S. imports as a percent of GDP
A) both rose at the same pace.
B) both fell at the same pace.
C) both rose, but U.S. imports as a percent of GDP rose at a faster pace.
D) both rose, but U.S. exports as a percent of GDP rose at a faster pace.
C
You might also like to view...
For an economy starting at full employment real GDP, a decrease in autonomous expenditure results in a(n)
A. inflationary output gap. B. increase in full-employment output. C. decrease in full-employment output. D. recessionary output gap.
Excess demand in an unregulated market will cause the price of a product to fall
Indicate whether the statement is true or false
People sometimes try to limit the options they have available. This
a. is consistent with rational economic behavior. b. can be explained by behavioral economic analysis c. explains why demand curves are sometimes vertical d. violates the assumption of transitive preferences e. occurs when income and substitution effects cancel out.
Suppose that elasticity has been reliably measured as 1.55 and the unit price decreases from $20 to $17.50 . How much will quantity demanded increase?