Trade, as a percentage of GDP, has
A. decreased over the last 50 years.
B. increased from 1960 to 1980 but has been steady since.
C. remained constant for the last 50 years.
D. increased over the last 50 years.
Answer: D
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Fill in the blank: Producers will compare ________ benefits to ________ costs when considering how much output to produce
A) average; additional B) additional; additional C) additional; average D) average; average
Why is it that the enforcement of contracts by government is so crucial to the conduct of business?
What will be an ideal response?
Which of the following was NOT cited as contributing to unusual uncertainty having an adverse effect on aggregate supply?
A) the possibility that Congress may let the 2001, 2003 tax cuts to expire B) the Fed's limited use of monetary policy in fighting the recession C) the severity of the financial crisis D) concern that the Affordable Care Act would increase the cost of hiring workers
If the economy were producing at point E and moved to point D,
A. the unemployment rate would increase.
B. the unemployment rate would decrease.
C. the production possibilities would shift outward.
D. the economy would shift resources from producing butter to increasing the production of guns.