Over time, an increase in the real output and incomes of the trading partners of the United States will most likely
A. increase imports of U.S. goods.
B. decrease U.S. exports.
C. increase U.S. exports.
D. decrease imports of U.S. goods.
Answer: C
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Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at 20¢ per pound when 500 pounds are grown. The demand for potatoes is Q = 10,000/p
If the long-run supply curve is horizontal, then how many firms will this industry sustain in the long run? A) 0 B) 100 C) 50,000 D) There is not enough information to answer.
Which of the following would appear on the asset side of a commercial bank balance sheet?
a. Loans. b. Checkable deposits. c. Savings deposits. d. Net worth.
For the purposes of calculating GDP using the expenditure approach, which of the following is not included in the government purchases account?
A. The government's purchase of a computer B. The payroll of the federal government C. Government purchases of pencils D. Welfare payments to the poor
Which of the following directs the buying and selling of U.S. government securities?
A. Board of Governors B. Federal Reserve Banks C. Federal Open Market Committee D. Federal Advisory Council