Which of the following has occurred for the United States since ...

[cnetterville]

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

[Christopher]

Answer to Question 1

E

Answer to Question 2

C

[cnetterville]

Gracias!

[upturnedfurball]

Thanks for the timely response, appreciate it