The ratio of exports to GDP in the United States is small relative to that of other countries.
Answer the following statement true (T) or false (F)
True
The United States is a very large market where most production is sold domestically, so it has a low ratio of trade to GDP, while smaller countries such as Belgium have a very high trade to GDP ratio.
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An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment
Absolute advantage occurs when one nation can produce a good ____ its trading partners
a. in larger quantities than b. faster than c. that is desired by d. more efficiently than e. only consumed by