The amount of U.S. exports to the rest of the world is primarily determined by
What will be an ideal response?
the real disposable income in other nations
" U.S. exports depend on the income of foreigners, not on U.S. income"
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A constant-cost industry is an industry in which
A) average costs fall as the industry expands output. B) input prices rise at a constant rate as firms in the industry use more inputs. C) average costs rise as the industry expands output. D) average costs remain constant as the industry expands output.
Which of the following were helped by the large subsidies the federal government provided for the production of ethanol?
A. taxpayers B. poor people in less developed countries with largely grain based diets C. beef producers D. grain farmers and ethanol refiners
Which of the following groups of countries were members of NAFTA?
A. Japan, Canada, and Mexico B. the United States, Japan, and Mexico C. the United States, France, and Germany D. the United States, Canada, and Mexico
The present value of a sum to be received in the future is greater
A) the greater the interest rate. B) the less the time period before receiving the sum. C) the greater the inflation rate. D) the greater the discount rate.