Total government spending in the U.S. economy was around _____ of the GDP in the financial year 2010

a. 5 percent
b. 36 percent
c. 25 percent
d. 44 percent
e. 16 percent

b

Economics

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Suppose a country's net exports equal 0. If the volume of imports increases without any change in the volume of exports, the country will experience a ________

A) trade deficit B) budget deficit C) trade surplus D) budget surplus

Economics

Let's assume producers in Canada can make 200 units of beef or 50 units of oranges, and U.S. producers can make 50 units of beef or 200 units of oranges per time period. Pick the true statement:

A) The opportunity cost of 1 unit of beef in Canada is 4 units of oranges. B) The opportunity cost of 1 unit of oranges in the U.S. is 4 units of beef. C) Canada is has a comparative advantage in oranges. D) The U.S. has a comparative advantage in beef. E) None of the above is true.

Economics