Author Question: Which of the following has occurred for the United States since 1960? A) The ratio of exports to ... (Read 13 times)

cnetterville · **on:** Jun 30, 2018

Which of the following has occurred for the United States since 1960?

A) The ratio of exports to GDP (X/Y) and the ratio of imports to GDP (IM/Y) have both decreased.
B) X/Y has increased while IM/Y has decreased.
C) X/Y has decreased and IM/Y has increased.
D) X/Y and IM/Y have stayed relatively constant.
E) none of the above

Question 2

The price setting equation is represented by the following: P = (1 + m)W. When there is perfect competition, we know that m will equal

A) W.
B) P.
C) 1.
D) W/P.
E) none of the above