Which of the following is a true statement?
A. The United States has the world's largest ratio of exports to GDP.
B. The United States is almost entirely dependent on other countries in obtaining items such
as silk, nickel, tin, and coffee.
C. U.S. exports to China greatly exceed U.S. imports from China.
D. Since 1947 the United States has accounted for a rising percentage of total world trade.
B. The United States is almost entirely dependent on other countries in obtaining items such
as silk, nickel, tin, and coffee.
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Fiscal policy is
A) the selling of government bonds by the Treasury. B) the deliberate manipulation of the money supply designed to affect the interest rate. C) the deliberate manipulation of taxation and spending designed to affect the economy. D) the selling of foreign exchange reserves designed to change the exchange rate. E) All of the above.
If a government runs a fixed exchange rate system and increases the dollar price of its currency, we say there has been a(n)
a. appreciation of the foreign currency b. depreciation of the foreign currency c. revaluation of the foreign currency d. devaluation of the foreign currency e. fixing of the foreign currency
A(n) ________ is a government policy that outlaws attempts to monopolize, or cartelize, markets in which competition is desirable
a. social regulation. b. economic regulation. c. antitrust policy. d. deregulation.
Suppose the small country of Trantor has a steady growth rate of 2.5 percent. Its GDP is expected to double in
A. 70 years. B. 5 years. C. 2.5 years. D. 28 years.