Which of the following is correct?
a. U.S. exports as a percentage of GDP have about tripled since 1950 . The U.S. currently has a trade deficit.
b. U.S. exports as a percentage of GDP have about tripled since 1950 . The U.S. currently has a trade surplus.
c. U.S. exports as a percentage of GDP have about doubled since 1950 . The U.S. currently has a trade deficit.
d. U.S. exports as a percentage of GDP have about doubled since 1950 . The U.S. currently has a trade surplus.
a
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The following table shows values of annual real GDP per capita over time. Use it to answer the next question.1810$1,5001860$2,1001910$3,9001960$18,0002010$43,600What was the rate of growth in real GDP per capita between 1810 and 2010?
A. 2,807% B. 2,907% C. $43,600 D. $42,100
What are the three major components of economic growth?
What will be an ideal response?
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Cruise R Us and Cruise the World compete in the cruise line industry. Each firm needs to determine if they are going to offer special cruise packages with special rates or not offer the specials. The above payoff matrix shows the firms' net economic profit for each set of strategies.
A) There are two Nash equilibria in this game.
B) There is one Nash equilibrium in this game.
C) There are three Nash equilibria in this game.
D) There are no Nash equilibria in this game.
One barrier to entry into a monopoly market is:
A. a natural monopoly. B. commonplace inputs. C. bulk buying. D. price gouging.