Which statement is true?
A. Until 1971, the U.S. ran a trade deficit virtually every year of the 20th century.
B. The U.S. ran trade surpluses for most of the 19th century.
C. In the 1920s, the U.S. flooded the rest of the world with consumer goods such as Model T Fords, radios and waffle irons as our trade surpluses increased.
D. Until after WWII most of U.S. exports were agricultural products, such as cotton and grain sent to Europe.
C. In the 1920s, the U.S. flooded the rest of the world with consumer goods such as Model T Fords, radios and waffle irons as our trade surpluses increased.
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Using the table above, if the current market value of the dollar is 90 francs
A) investor A expects dollar appreciation, but B and C expect depreciation. B) investor C expects dollar depreciation, but A and B expect appreciation. C) all three investors expect the dollar to appreciate. D) all three investors expect the dollar to depreciate.
Billy is running a fast-food burger stand in his small community. If he is like other monopolistic competitors in short-run equilibrium which of the following would be true? a. His demand curve would be downward sloping
b. His marginal revenue curve would lie below his demand curve. c. He would be maximizing profits where his MC = MR. d. All of the above would be characteristics of Billy's burger stand.