The largest goods exports of the United States (in dollar volume, 2012) are:
A. energy products, agricultural products, metals, and chemicals.
B. petroleum, automobiles, clothing, and household appliances.
C. iron and steel, clothing, beef, and sugar.
D. aircraft, glassware, television sets, and furniture.
A. energy products, agricultural products, metals, and chemicals.
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If the price of a complementary good decreases, demand for the original good will decrease
Indicate whether the statement is true or false
Stockholders normally obtain higher expected payments than bondholders because
A. they are required by law to obtain a higher return. B. they face higher risk. C. the profit share declared as stock dividends is not taxable. D. they vote themselves higher returns.
Refer to Figure 8.9. At the market price of $18, if this farmer produces the profit maximizing quantity, what profit will he make? A) $0 B) $2,000 C) $700 D) indeterminant from this information
If elasticity of demand is 5 and price is raised from $10 to $11, by what percentage will quantity demanded fall?
What will be an ideal response?