One of the consequences of the U.S. trade deficit is that:
A. domestic inflation has resulted.
B. the accumulation of American dollars in foreign hands has enabled foreign firms to build
factories in America.
C. the distribution of income in the United States has become less unequal.
D. the system of flexible exchange rates has been abandoned in favor of a new gold
standard.
B. the accumulation of American dollars in foreign hands has enabled foreign firms to build
factories in America.
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The economy of the former Soviet Union is best described as a
a. primitive economy. b. market economy. c. hybrid economy. d. centrally-planned economy.
A perfectly inelastic demand curve is
A. a vertical line. B. a horizontal line. C. a line that slopes downward to the right. D. a line that slopes upward to the right.