The loss of total market share of steel in the world market for steel can be blamed on steel producers' decisions to not adopt the latest steel technology
The producers in other countries that adopted it gained market share at the expense of the U.S. Indicate whether the statement is true or false
True
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Because of the slope(s) of the ________, we can say that a decrease in the price level leads to a higher level of real GDP demanded
A) short-run and long-run aggregate supply curves B) short-run aggregate supply curve C) aggregate demand curve D) long-run aggregate supply curve
GDP and GNP are identical when
a. exports and imports exactly balance. b. all domestic production is by domestically owned producers and no foreign production is carried out by domestic producers. c. production by domestic producers in other countries is greater than production by foreign producers domestically. d. there are no taxes.