One of the principal factors behind the U.S. trade deficits of the 1990s has been
a. slow growth and recession in many important trading partners.
b. rapid growth and inflation in many important trading partners.
c. significant depreciation of the dollar.
d. rising real interest rates in the United States.
a
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Which of the following could help explain why professional football players have high salaries?
a. There is little social status attached to the occupation. b. Their marginal revenue products are typically very low. c. They face a high chance of having their careers cut short. d. Many college football players want to become professional football players. e. The labor market is perfectly competitive due to the players' union.
The simple quantity theory of money predicts that changes in
A) the money supply lead to strictly proportional changes in the price level. B) the money supply do not affect the price level. C) the price level lead to strictly proportional changes in velocity and GDP. D) velocity lead to nearly proportional changes in the money supply.