The fact that the United States has become a net debtor nation is an indication that
A. The U.S. economy is in a long-term decline compared to other major economies.
B. The United States should never have abandoned the gold standard.
C. The U.S. economy is highly regarded by world investors.
D. As undesirable as they are, trade restrictions are becoming a necessity.
Answer: C
You might also like to view...
Prior to the 1980s ________
A) the hourly wage of women exceeded that of their male counterparts B) the employment ratio for women was equal to that of men C) a majority of women were not in the labor force D) the majority of men were not in the labor force
A defense for the assumption that consumers maximize is that
A) consumers never make mistakes. B) consumers do not consistently make the same mistakes. C) it allows for many possible outcomes. D) mistaken consumers may receive counseling from the government.
The natural rate of unemployment:
A. is zero. B. occurs at the economy's potential level of output. C. will cause a steady rise in the price level. D. All of these statements are true.
If the exchange rate changes from $1 = 1.2 euros to $1 = 1.4 euros, then the U.S. dollar _____ and the euro _____.
a) appreciated; depreciated b) depreciated; appreciated c) depreciated; depreciated d) appreciated; appreciated