Data on exports and imports for the United States over the period from 1890 to 2008 show that
A) the United States had large trade deficits throughout this entire period.
B) the United States had large trade surpluses throughout this entire period.
C) the percentage of total output exported by U.S. firms fell dramatically during World War I and World War II.
D) a higher percentage of U.S. goods was exported in recent years than in earlier years.
D
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Ricardian equivalence can be said to hold if:
a. taxation has greater effect on private spending than government borrowing. b. taxation has a lesser effect on private spending than government borrowing. c. government borrowing does not affect private consumption while taxation has a negative impact on private consumption. d. government spending activities financed by taxation and those financed by borrowing have the same effect on private spending. e. government spending activities financed by taxation and those financed by borrowing have no effect on private spending.
Define what a market is and provide three examples of where a market can be found