What is most accurate about the United States' trading patterns between 1850 and 1900?
a. The US exported more finished manufacturers in 1850 than it did in 1900.
b. Raw materials accounted for a greater share of US imports in 1850 than they did in 1900.
c. Manufactured and raw foodstuffs accounted for about 75% of exports in both 1850 and 1900.
d. In 1850, the US's largest export was raw materials and its larges import was finished manufacturers.
d. In 1850, the US's largest export was raw materials and its larges import was finished manufacturers.
You might also like to view...
Fed policies since the mid-1980s have been intended to
A) steepen the growth path of natural real GDP. B) taper down the growth rate of actual real GDP as it approaches natural real GDP. C) accelerate the growth rate of natural real GDP whenever actual real GDP exceeds it. D) use the "runway" of natural real GDP as a springboard to faster growth.
When the price of an eBook is $15.00, the quantity demanded is 400 eBooks per day. When the price falls to $10.00, the quantity demanded increases to 700 . Given this information and using the midpoint method, we know that the demand for eBooks is
a. inelastic. b. elastic. c. unit elastic. d. perfectly inelastic.