Which of the following is true?
a. In recent decades, the volume of U.S. international trade has been declining as a share of the economy.
b. Most of the textile products produced in the United States are exported abroad.
c. The volume of U.S. trade with Canada is larger than for any other country.
d. If one party to an international exchange gains, the other party must lose a similar amount.
C
You might also like to view...
GDP is used by economists to measure
A) the market value of final goods and services produced over a particular time period. B) the overall well-being of society enjoyed over a particular time period. C) the overall efficiency of the macro economy over a particular time period. D) the economic strength of the nation.
Which of the following items is likely to have the highest positive income elasticity of demand?
a. Bread b. Jewelry c. Soap d. A plumber's service e. Table salt