One economic advantage of a large share of exports in GDP is that countries
A) can reduce their budget deficits.
B) can purchase the imports they need.
C) can maintain lower rates of unemployment.
D) will have greater equality in their incomes.
E) develop more labor-intensive industry.
B
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If you want to earn a real interest rate of 3% on money you lend, and you expect that inflation will be 2%, what nominal rate of interest will you charge?
A) 1% B) 5% C) 6% D) 9%
The rapid growth of China's economy relative to the United States has benefitted U.S. consumers because
A) U.S. consumers can purchase more lower-priced goods made in China. B) competition from China has made jobs harder to find in the United States. C) goods made in China are always of higher quality than goods made in the United States. D) the United States has comparative advantage in more goods than China does.