Until the 1970s, the United States generally had a trade surplus.
Answer the following statement true (T) or false (F)
True
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Which of the following would result in GDP for an economy equal to $10 trillion?
A) C = $7 trillion I = $2 trillion G = $4 trillion NX = $3 trillion B) C = $6 trillion I = $2 trillion G = $1.5 trillion NX = -$2 trillion C) C = $4 trillion I = $3 trillion G = $2 trillion NX = -$1 trillion D) C = $5 trillion I = $5 trillion G = $2 trillion NX = -$2 trillion
A(n) ________ in the liquidity of corporate bonds will ________ the price of corporate bonds and ________ the yield on corporate bonds, all else equal
A) increase; increase; decrease B) increase; decrease; decrease C) decrease; increase; increase D) decrease; decrease; decrease
A union never wants to accept a negative marginal wage.
Answer the following statement true (T) or false (F)
For this question, assume that there are decreasing returns to capital, decreasing returns to labor, and constant returns to scale. Now suppose that both capital and labor decrease by 5%. Given this information, we know that output (Y) will
A) not change. B) decrease by less than 5%. C) decrease by 5%. D) decrease by more than 5% but less than 10%. E) none of the above