When U.S. real GDP increases, U.S. imports
A) increase by more than the change in real GDP.
B) decrease by less than the change in real GDP.
C) decrease by the same amount.
D) increase by less than the change in real GDP.
E) increase by the same amount.
D
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The market clearing price of computer modems has just decreased. Which of the following could have caused this change?
A) a decrease in supply at the same time that demand increases B) an increase in supply at the same time that demand decreases C) a decrease in supply with demand unchanged D) an increase in demand with supply unchanged
Diversification:
A. reduces the likelihood that bad things will happen. B. means you're not likely going to be completely ruined by a single unfortunate event. C. increases the likelihood that bad things will happen. D. None of these statements is true.
Variable costs increase when output rises
a. True b. False Indicate whether the statement is true or false
Tyrell is consuming X and Y so that he is spending his entire income and MUx/Px = 7 and MUy/Py = 7. To maximize utility, he should consume
A. the same amount of X and Y since he is already maximizing utility. B. less X and more Y. C. less of both X and Y. D. more X and less Y.