If economies participate in the global trade of goods and services, they do not need to participate in international flows of financial payments and investments.
Select whether the statement is true or false.
A. True
B. False
B. False
This statement is false. If economies participate in the global trade of goods and services, they will also need to participate in international flows of financial payments and investments.
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Suppose the price elasticity of demand for oil is 0.1. In order to lower the price of oil by 20 percent, the quantity of oil supplied must be increased by
A) 200 percent. B) 20 percent. C) 2 percent. D) 0.2 percent.
Research on the effects of recessions on the real level of GDP shows that
A) recessions cause only temporary reductions in real GDP, which are offset by growth during the expansion phase. B) recessions cause large, permanent reductions in the real level of GDP. C) recessions cause both temporary and permanent declines in real GDP, but most of the decline is temporary. D) recessions cause both temporary and permanent declines in real GDP, but most of the decline is permanent.