In 2012, U.S. exports of services ______ U.S. imports of services by about _____.
A. exceeded; $19B
B. fell short of; $19B
C. exceeded; $196 B
D. fell short of; $196B
C. exceeded; $196 B
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In an open economy, the government purchases multiplier will be
A) smaller as the marginal propensity to consume increases. B) smaller as the marginal propensity to import increases. C) larger as the marginal propensity to tax increases. D) larger as the marginal propensity to import increases.
OPEC has had a sustained effect on the price of oil since it was first founded in 1960
Indicate whether the statement is true or false
One reason for international specialization in production is
a. differing national tastes b. diseconomies of scale in production c. a high world price for a good d. resources are plentiful in all nations e. people have limited wants for domestically produced goods and services
Drug companies tend to attribute higher drug prices on
A. the low percentage of attempts that actually result in revenue producing drugs. B. long testing processes. C. the low percentage of attempts that actually result in revenue producing drugs and long testing processes. D. doctors distributing too many free samples.