All of the following statements are true except
A. Until 1971 the United States had run a trade surplus virtually every year of the 20th century.
B. The U.S. ran relatively small trade deficits through most of the 19th century.
C. The U.S. was the only industrial power to raise tariffs during the 1930s.
D. World trade in the 1930s dwindled to a fraction of what it had been in the 1920s.
C. The U.S. was the only industrial power to raise tariffs during the 1930s.
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Karl Marx's view of income derived from interest is that it is
a. appropriate as long as the loanable funds market is in equilibrium b. ethical as long as everyone who receives it earns it c. allowable if the income is earned, not inherited d. necessary otherwise no loanable funds would be provided e. objectionable because property ownership, including ownership of capital, is unjustifiable
If there was a federal budget surplus and the government decided to either increase spending or decrease taxes,
A. The budget surplus would get smaller. B. The budget surplus would remain unchanged. C. The budget surplus would get larger. D. None of the choices are correct.