For country A, an import is a good produced in:
A. country B and purchased by residents of country B.
B. country B and purchased by residents of country A.
C. country A and purchased by residents of country B.
D. country A and purchased by residents of country A.
Answer: B
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When real GDP is ________ potential GDP, the unemployment rate is ________ the natural unemployment rate
A) greater than; less than B) less than; equal to C) equal to; greater than D) greater than; greater than
After two rounds of quantitative easing, the money supply was:
A. $3 trillion, more than triple the amount pre-crisis. B. $2 trillion, nearly double the amount pre-crisis. C. $1 trillion, nearly the same as the amount pre-crisis. D. $2 trillion, still less than the amount pre-crisis.
Suppose the United States enters a recession, what type of unemployment would be most likely to rise as a result of the recession?
Select one: a. Frictional unemployment b. Sectoral unemployment c. Cyclical unemployment d. Seasonal Unemployment
A seller is willing to sell a product only if the seller receives a price that is at least as great as the
a. seller's producer surplus. b. seller's cost of production. c. seller's profit. d. average willingness to pay of buyers of the product.