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 102 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?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

For a complete list of videos, visit our video library