A main trading partner with the U.S. is:
A. South Africa.
B. China.
C. Norway.
D. Saudi Arabia.
B. China.
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What is a mixed strategy? Describe a mixed strategy that would be a Nash equilibrium for the Copycat Game, and indicate why neither player would want to deviate from that mixed strategy.
What will be an ideal response?
In an economy where aggregate spending is given by Y = 5,500 + 0.6Y - 20,000r, the interest rate is currently 2 percent (0.02). If potential output equals 8,000, the central bank must ________ the interest rate to close the ________ gap.
A. raise; expansionary B. raise; recessionary C. lower; recessionary D. lower; expansionary
(Advanced analysis) Answer the question on the basis of the following information. The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q. Refer to the given information. The equilibrium price for
X is: A. $2. B. $4. C. $6. D. $7.
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What will be an ideal response?