Which of the following statements accurately describes the situation shown?
a. The U.S. balance of trade on goods and services was positive in 2017.
b. The U.S. balance of trade on goods and services was $552 billion in 2017.
c. The United States had a trade deficit in 2017 on goods and services.
d. The United States had a trade surplus in 2017 on goods and services.
c. The United States had a trade deficit in 2017 on goods and services.
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Assuming all else equal, if households are optimistic about their future income, it is likely to cause a(n):
A) downward movement along their credit demand curve. B) upward movement along their credit demand curve. C) leftward shift of their credit demand curve. D) rightward shift of their credit demand curve.
For purposes of determining comparative advantage, the cost of producing a good in each of two countries is measured in terms of:
a. metric units only. b. opportunity costs. c. total costs. d. the currency of the importing country. e. the currency of the exporting country.