The case of ________ has been referred to in the press and business publications as an example of right-minded import protection in the United States.
a. U.S. steel
b. Dole bananas
c. the Chrysler corporation
d. Harley-Davidson motorcycles
Ans: d. Harley-Davidson motorcycles
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As of 2008, the members of the WTO account for what percentage of world trade?
A) 3 percent. B) 23 percent. C) 57 percent. D) 97 percent
The balance of payments has become a central issue for the United States because
A) when the balance of payments is not balanced, society is unbalanced. B) the U.S. economy cannot grow when the balance of payments is in deficit. C) the U.S. has run huge trade deficits in every year since 1982. D) the U.S. never experienced a surplus in its balance of payments. E) the U.S. once ran a large trade surplus of about $40 billion.
In the short run, which are most important in determining changes in output?
a. marginal costs and marginal revenue. b. total costs and total revenue. c. average costs and total revenue. d. fixed costs.
At the beginning of 1989, the GDP deflator was 93.6. At the end of 2004, it was 189.2. What was the total percentage change in prices over this 15-year period?
A. 59.6 percent. B. 150.0 percent. C. 98.9 percent. D. 102.14 percent.