Which of the following statements in the context of U.S. exports is true?
a. The U.S. exports products produced in the low wage industries.
b. Primary products account for the largest share of U.S. exports to developed nations.
c. The U.S. mainly exports labor intensive goods.
d. Most U.S. exports are produced in high-wage industries.
e. A bulk of U.S. exports to developing nations comprise of perishable commodities.
d
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In the above figure, assume the economy starts out in equilibrium at point d. If the Fed increases the money supply so that the new aggregate demand curve is AD3, then the long-run equilibrium will be at point
A) a. B) b. C) c. D) i.
Some economists believe that permanently lower marginal income tax rates __________ the incentive to work and thus shift the __________
A) increase; LRAS curve to the right B) increase; AD curve to the right C) increase; SRAS curve to the left D) decrease; LRAS curve to the right E) decrease; AD curve to the left