Since 1950, the balance of trade for United States has
A) gone from a surplus to a deficit.
B) gone from a deficit to a surplus.
C) remained constant.
D) gone from a small deficit to a larger deficit.
A
You might also like to view...
Suppose labor supply declined. Would this affect the aggregate demand curve or the aggregate supply curve? What would be the effect on output and the price level?
What will be an ideal response?
Suppose losses cause industry Z to contract, and as a result, the prices of inputs used intensively in the industry's production process fall. We know, as a result, that industry Z is: a. an increasing cost industry
b. a constant cost industry. c. a decreasing cost industry. d. experiencing diminishing returns.
At an equilibrium price for gasoline,
a. everyone with the desire and the income to buy gasoline at that price can do so. b. surpluses are inevitable. c. inherent market forces will eventually change the quantities demanded and supplied. d. suppliers must be using the most efficient oil-drilling equipment available.
Recurring upswings and downswings in an economy's real GDP over time are called:
A. recessions. B. business cycles. C. output yo-yos. D. total product oscillations.