Refer to the graph shown. According to the globalized AS/AD model, which world aggregate supply curve best represents the 2000s?
A. WAS0, and the United States had a large trade surplus.
B. WAS1, and the United States had a small trade deficit.
C. WAS2, and the United States had a small trade surplus.
D. WAS3, and the United States had a large trade deficit.
Answer: D
You might also like to view...
In the summer 2012 the lobster catch in Maine was especially large, but instead of celebrating the fisherman were suffering from a lower total revenue. (Source: New York Times, July 28, 2012 ) As the lobster catch increases, there is
A) a movement along the demand curve, resulting in a higher price and a decreased quantity. B) a movement along the demand curve, resulting in a lower price and an increased quantity. C) no change in either the price or the quantity. D) a movement along the demand curve, resulting in a higher price and an increased quantity.
If Alex uses $800 from her checking account to pay her credit card balance, her wealth:
A. increases by $800. B. does not change. C. decreases by $800. D. increases by $1,600.