Refer to Table 19-29. Based on the table above, what is national income for this economy?
A) $4,700 billion B) $4,000 billion C) $3,150 billion D) $2,450 billion
B
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A Federal Reserve publication proclaimed that "Trade is a win-win situation for all countries that participate." This statement is
A) false since it ignores the workers who lose their jobs as result of international trade. B) true because all consumers and workers benefit from international trade. C) false since not all countries participate in international trade. D) true because it refers to countries; individuals may be losers as a result of international trade.
Domestic producers prefer quotas to tariffs because quotas raise the price of imports and tariffs do not.
Answer the following statement true (T) or false (F)
A nation's infrastructure refers to:
A. public capital goods such as highways and sanitation systems. B. the productivity of its labor force. C. its ability to realize economies of scale. D. its stock of technological knowledge.
Suppose that because of unseasonably cold weather in Florida, a significant portion of the orange crop has been lost to freezing temperatures. This statement means that
A) the demand for oranges will rise. B) the equilibrium quantity of oranges will rise. C) the amount of oranges available at various prices will decline. D) the price of oranges will fall.