Which of the following statements about the importance of trade to the U.S. economy is false?
A) The U.S. economy is highly dependent on international trade for growth in its gross domestic product.
B) Overall, about 20 percent of U.S. manufacturing jobs depend directly or indirectly on exports.
C) The United States is the second largest exporter in the world.
D) Since 1970, both exports and imports have steadily increased as a fraction of U.S. gross domestic product.
A
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If the single-input producer choice set is fully convex, the first order conditions of the profit maximization problem are necessary but not sufficient for identifying the profit maximizing production plan.
Answer the following statement true (T) or false (F)
When the demand for blue jeans increases, what happens next?
What will be an ideal response?
The VER between the United States and Japan was shown to _______________ gas consumption, _______________ the use of energy, and _______________ gas mileage from automobiles.
a. raise; raise; lower b. lower; lower; raise c. raise; lower; lower d. lower; raise; raise
Professor Cowen suggests that gift-giving can create value for each of the following reasons EXCEPT:
A. gift-giving can lower search costs. B. some gifts are given for paternalistic reasons. C. gifts can signal our values or intentions. D. the cost of the gift for the recipient is zero.