The total of all economic transactions between a nation and the rest of the world is referred to as the

If the production of wheat were subsidized by government,

A) the demand for wheat would increase. B) the supply of wheat would increase. C) both A & B would occur. D) none of the above would occur.

The rule of 70 states that

A) the number of years it takes an economy to double in size is the growth rate times 70. B) the number of years it takes an economy to double in size is the growth rate divided by 70. C) it takes an economy 70 years to double its real GDP. D) the number of years it takes an economy to double in size is 70 divided by the growth rate.