In the United States, exports of goods and services accounted for about what percentage of GDP (total output) in 2011?
A. 6 percent
B. 14 percent
C. 24 percent
D. 42 percent
B. 14 percent
Economics
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When the quantity of labor demanded exceeds the quantity of labor supplied, the real wage rate
A) rises to eliminate the labor-market shortage. B) falls to eliminate the labor-market surplus. C) rises to eliminate the labor-market surplus. D) falls to eliminate the labor-market shortage.
Economics
In the above figure, when the economy is in a long-run equilibrium, real GDP will be
A) $15.5 trillion. B) $16.0 trillion. C) $17.5 trillion. D) $17.0 trillion.
Economics