This topic contains a solution. Click here to go to the answer

Author Question: If the value of exports equals 6.5 billion and the value of imports equals 8.0 billion in a year, ... (Read 106 times)

futuristic

  • Hero Member
  • *****
  • Posts: 638
If the value of exports equals 6.5 billion and the value of imports equals 8.0 billion in a year, then:
 a. together imports and exports add 1.5 billion to the gross domestic product (GDP).
  b. together exports and imports add 6.5 billion to the gross domestic product (GDP).
  c. together exports and imports reduce the gross domestic product (GDP) by 1.5 billion.
  d. together exports and imports reduce the gross domestic product (GDP) by 1.5 billion.
  e. together exports and imports add nothing to the gross domestic product (GDP).

Question 2

If more and better technology is used for producing wheat in the United States than in a lesser-developed country, then the:
 a. MRP of the U.S. workers will be higher than the MRP of the workers in the lesser-developed country.
  b. MRP of the U.S. workers will be lower than the MRP of the workers in the lesser-developed country.
  c. demand for the U.S. workers will be lower than the demand for the workers in the lesser developed country.
  d. price of wheat will be higher in the United States than in the lesser-developed country.
  e. wages of the U.S. workers will be lower than the wages of the workers in the lesser-developed country.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ong527

  • Sr. Member
  • ****
  • Posts: 285
Answer to Question 1

c

Answer to Question 2

a




ong527

  • Sr. Member
  • ****
  • Posts: 285

 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

For a complete list of videos, visit our video library