The gravity equation was tested and found to be very accurate in predicting:
a. world trade in total.
b. trade between various provinces in Canada and American states.
c. trade between the United States and Japan.
d. trade between nations in the European Union.
Ans: b. trade between various provinces in Canada and American states.
Economics
You might also like to view...
The highest unemployment rate in U.S. history was about
A) 10.2 percent in 2009. B) 5.9 percent in 1972. C) 10 percent in 1982. D) 25 percent in 1933. E) 52 percent in 1939.
Economics
The law of diminishing marginal utility explains why an individual's demand curve is elastic
a. True b. False
Economics