Which of the following statements is true?
A) Countries tend to trade extensively with their neighbors.
B) The United States is an important trading partner for many countries.
C) The largest amount of international trade occurs between industrialized countries.
D) All of the above are true.
D
You might also like to view...
The consumer wants to work because he/she
A) is told to work. B) likes to work. C) likes leisure. D) wants the income.
If one dollar exchanges for 20 Thailand baht, then:
a. a baht is worth $20. b. $20 will exchange for one baht. c. a baht is worth $2. d. the United States and Thailand would not engage in trade. e. a baht is worth a nickel.
On the basic supply-demand graph, the point at which the demand curve and the supply curve intersect is located at
A. market price and market quantity. B. equilibrium price and equilibrium quantity. C. equilibrium demand and equilibrium supply. D. quantity demanded and quantity supplied.
A monopoly exists when
A. The government intervenes on behalf of consumers. B. A small number of firms are the only producers of a good. C. A large number of firms are producing a good. D. One firm produces all the output for a particular good or service.