Which of the following statements is most likely true?
a. In recent decades, the export/GDP ratio has generally fallen, both worldwide and for the U.S. economy.
b. In recent decades, the export/GDP ratio has generally risen worldwide, but not for the U.S. economy.
c. In recent decades, the export/GDP ratio has generally risen, both worldwide and for the U.S. economy.
d. In recent decades, the export/GDP ratio has generally fallen worldwide, but not for the U.S. economy.
c. In recent decades, the export/GDP ratio has generally risen, both worldwide and for the U.S. economy.
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Workers in an economy are likely to be more productive if:
A) the economy has a high capital stock. B) the unemployment rate in the economy is low. C) the rate of inflation in the economy is high. D) the size of the population is high.
The owner of the local "Fatty Foods" chain of restaurants is thinking about retiring. He has two options: he can hire salaried managers for his stores or franchise them to local entrepreneurs. If the owner believes that there are high costs to monitoring the stores after he retires, what should he do?
a. Let the stores stay company stores b. Sell them off as franchises c. Shut down the business completely d. Never retire
Imagine that there are only two nations in the world, the United States and Mexico. If Mexico experiences a drop in the price of foreign exchange, people in Mexico will
a. have to buy more U.S. currency, because prices of imports from the United States will have increased b. end up buying less U.S. currency, because U.S. prices on goods will decrease to everyone c. be able to afford less U.S. currency, and imports from the United States will be more expensive d. be able to afford more U.S. currency, and imports from the United States will be cheaper e. be able to afford more U.S. currency, and imports from the United States will be more expensive
Which of the following is not a requirement for the existence of monopolistic competition in a market?
A. Numerous small sellers B. Full information about the market among buyers and sellers C. Product homogeneity D. Freedom of entry into the market