Which of the following statements is true?
A) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice and corn crops.
B) France is the leading exporting country, accounting for 10 percent of total world exports.
C) Japan is more dependent on foreign trade than is the United States.
D) Imports and exports account for over one-half of the GDP of Belgium.
D
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A rational decision maker takes an action if and only if the marginal benefit exceeds the marginal cost
a. True b. False Indicate whether the statement is true or false
According to the circular flow, the value of total output produced and total income
A. will always be different by the amount of firm profits B. should increase by the unanticipated rate of inflation. C. will be equal. D. should differ by the value of intermediate goods.