A country that grows faster than the rest of the world should find its imports growing faster than its exports.
Answer the following statement true (T) or false (F)
True
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Producer surplus
A. is the difference between the minimum price producers are willing to accept for a product and the higher equilibrium price. B. is the difference between the maximum price consumers are willing to pay for a product and the lower equilibrium price. C. rises as equilibrium price falls. D. is the difference between the maximum price consumers are willing to pay for a product and the minimum price producers are willing to accept.
Institutions that borrow money from savers to lend to borrowers are known as
A) financial markets. B) bond brokers. C) financial intermediaries. D) asset exchanges.
The United Steel Workers Union is an example of
A) a craft union. B) an auto union. C) an industrial union. D) a blue collar union.
Brand loyalty in monopolistically competitive markets manifests itself as
A) upward-sloping marginal cost curves. B) downward-sloping demand curves. C) downward-sloping marginal cost curves. D) upward-sloping demand curves.