Since roughly 1970, the U.S. has moved from being a
A. small net creditor nation to a much larger net creditor nation.
B. net importer of goods and services to being a net exporter of goods and services.
C. net creditor nation to being a net debtor nation.
D. net debtor nation to being a net creditor nation.
Answer: C
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Firm A producing one good acquires another firm B producing another good. Price elasticity of demand for Firm A's good is -1.8 and Firm's B is -1.8 . Holding other things constant and assuming both goods are substitutes, the acquiring firm should
a. Raise prices on both goods with a larger increase in Firm A's good b. Raise prices on both goods with a larger increase in Firm B's good c. Raise prices on both goods by the same amount d. Lower prices on both goods
The relative decline in goods production compared to services produced means that we're producing fewer goods than in earlier decades.
Answer the following statement true (T) or false (F)
Refer to the data below. Assume that Wat originally produced rice and corn at combination C and that Xat originally produced combination B. If the nations now fully specialized based on comparative advantage, the total gains from specialization and trade are:
Answer the following question based on the data provided in the tables below for two hypothetical nations, Wat and Xat. The nations have the production possibilities for rice and corn given in the following table:
A. 25 units of rice and 25 units of corn
B. 50 units of rice and 50 units of corn
C. 100 units of rice and 100 units of corn
D. 100 units of rice and 150 units of corn
Use the table below to answer the next question.YearEmployedStructuralFrictionalCyclicalUnemployed20031,800501005020020042,400100100 30020052,000 15018050020062,66040 0140Determine the number of people frictionally unemployed for the year 2006.
A. 100 B. 200 C. -100 D. 0