In recent decades, the United States
A) was essentially a closed economy.
B) was generally a net borrower of foreign funds.
C) was generally a net lender abroad.
D) experienced a net outflow of savings.
B
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A positive externality ________
A) gives rise to external benefits B) leads to increasing returns to scale C) imposes an additional cost on the society D) leads to higher economic profit
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.According to the figure, if The Rock Shop enters the market, MiiTunes should:
A. leave the market. B. give an ultimatum to The Rock Shop. C. charge a high price. D. charge a low price.