Since 1975, U.S. exports and imports have:
A. grown absolutely but remained a constant proportion of GDP.
B. grown absolutely but declined as a proportion of GDP.
C. grown both absolutely and as a percentage of GDP.
D. declined both absolutely and as a percentage of GDP.
C. grown both absolutely and as a percentage of GDP.
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A firm produces its product using both capital and labor. When it does not change its capital usage, but doubles its labor input, its output increases by less than 50 percent. Which of the following is the most likely explanation of this finding?
A) the principle of opportunity cost B) the spillover principle C) the principle of diminishing returns D) the marginal principle
Bonds issued by the U.S. Treasury are referred to as benchmark bonds because:
A. they are highly liquid and virtually free of default risk. B. all bonds from national governments are labeled as benchmark bonds. C. all bonds from the U.S. government have the same rate of interest. D. they are always purchased for a premium.