Which of the following is true?
a. In recent decades, the volume of U.S. international trade has been declining as a share of the economy.
b. Most of the textile products produced in the United States are exported abroad.
c. The volume of U.S. trade with Canada is larger than for any other country.
d. If one party to an international exchange gains, the other party must lose a similar amount.
C
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The model that economists use for illustrating the process of individual choice in a situation of scarcity is the _____, sometimes also called the opportunity set, a diagram which shows what choices are possible.
A. opportunity set B. consumption choice C. time value of money D. risk premium
Japanese electronics exports were hurt in 2008 as a result of the recession. How would this decrease in exports have affected Japan's aggregate demand curve?
A) The aggregate demand curve would have shifted to the right. B) The aggregate demand curve would not have shifted, but there would have been a movement up the aggregate demand curve. C) The aggregate demand curve would have shifted to the left. D) The aggregate demand curve would not have shifted, but there would have been a movement down the aggregate demand curve.
What are the two main antitrust laws and when were they enacted?
What will be an ideal response?
Congo, Dem. Rep. and Burundil have per capita GDPs of less than $______.
Fill in the blank(s) with the appropriate word(s).