As a result of the 2007-2009 recession:
A. declining imports created a trade surplus for the United States.
B. the U.S. trade deficit grew significantly.
C. declining imports reduced the size of the U.S. trade deficit.
D. roughly equivalent declines in both exports and imports left the U.S. trade balance
unchanged.
C. declining imports reduced the size of the U.S. trade deficit.
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The gold standard is a type of
A) fixed exchange rate system. B) flexible exchange rate system. C) floating exchange rate system. D) barter currency system.
Refer to the table for a fictional economy. The changes in the budget conditions between 2000 and 2001 best reflect:
A. demand-pull inflation.
B. cost-push inflation.
C. an expansion of real GDP and an automatic increase in tax revenues.
D. a contractionary fiscal policy.