Some nations are more involved in international trade than others, as measured by exports as a percentage of GDP. Which of the following most closely matches the exports as a percentage of GDP for the U.S. in 2009?
a. 71 percent
b. 51 percent
c. 31 percent
d. 11 percent
d
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Unanticipated deflation can create unemployment if
A) nominal wages are sticky, causing real wages to rise over time. B) nominal wages are flexible, causing people's real incomes to decline. C) banks refuse to make loans at low nominal interest rates. D) nominal interest rates remain positive.
A bond’s price is sensitive to changes in
A. the interest rate. B. the accepted rate of return on investment. C. investor confidence in the stability and credit worthiness of the firm. D. All of these responses are correct.
The relative concept of poverty is based on income relative to the
A. poverty line. B. average income. C. lowest 10 percent of incomes. D. highest 10 percent of incomes.
When comparing industries, a monopolistically competitive industry is less competitive than an oligopoly
a. True b. False Indicate whether the statement is true or false