Compared to our trade deficit with Japan from 2002-2009, our deficit with China was

An important determinant of the price elasticity of supply is the extent to which

A) the commodity is a luxury or a necessity. B) the demand for it is both price and income elastic. C) the product has many complements or substitutes. D) production requires the use of particularly scarce or specialized resources.

In the classical system, output and employment are primarily dependent on

a. population, productivity, and technology. b. technology, capital formation, and thrift. c. population, technology, and capital formation. d. productivity, thrift, and population.