Your text mentions several ways that international trade flows are qualitatively different than they were a century ago. Which of the following is NOT one of those ways?
A) Firms' investment spending on capital goods is more important than in the past.
B) International trade in raw commodities and agricultural products is more important than it was in the past.
C) It is possible to trade some types of services in a way that was not possible in the past.
D) Multinational corporations play a bigger role in production than they did in the past.
B
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Economic growth tends to be higher in a country that
A) has an open economy that encourages the rapid spread of technology. B) does not grant patents to investors. C) has a low saving rate. D) has an undeveloped system of property rights.
The effectiveness of automatic stabilizers is limited by the fact that
A. Congress usually acts slowly in legislating changes in tax rates. B. The stabilizers tend to raise the average price level regardless of the phase of the business cycle. C. The offset that the stabilizers provide to a change in private spending is less than the change in private spending. D. Transfer payments and subsidies increase during inflation and decrease during recessions.