Which of the following is true?
A. Most of the export and import trade of the United States is with less developed nations
B. The United States is fully dependent on other nations for metals and chemicals
C. Exports plus imports as a percentage of GDP is more than 50% for the United States
D. The United States is almost entirely dependent on imports for bananas and coffee
D. The United States is almost entirely dependent on imports for bananas and coffee
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Tax preferences create more _____ than a broad-based income tax because they change the relative prices to the taxpayer of earning different types of income
a. welfare loss b. benefits c. taxable income d. tax avoidance
An oligopoly may result from:
a. low or no barriers to entry. b. Standardization of a product. c. price-taking conditions for both buyers and sellers. d. increasing returns to scale