The trade in goods, services, and capital around the world comprises:
A. millions of dollars.
B. trillions of dollars.
C. a small amount in dollar value.
D. billions of dollars.
Answer: B
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Why is a guaranteed-income program based on the principle of selectivity?
If the price of a barrel of oil is $100 this year and the interest rate is 10 percent, then according to the Hotelling Principle the price next year is expected to be ________ per barrel
A) $90 B) $110 C) $100 D) None of the above is correct.
Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly decreases. What happens to the industry in the long run?
a. It experiences no change from the original equilibrium b. It experiences a higher equilibrium price and produces less output c. It experiences a lower equilibrium price and produces less output d. It experiences the same equilibrium price but produces more output e. It experiences the same equilibrium price but produces less output
In 2015, the U.S. experienced a deficit in its balance of trade with
A. Africa. B. Europe. C. OPEC. D. all of the answers are correct.