Author Question: If GDP exceeds GNP, we know with certainty that A) a budget deficit exists. B) a trade surplus ... (Read 67 times)

sammy · **on:** Jun 30, 2018

If GDP exceeds GNP, we know with certainty that

A) a budget deficit exists.
B) a trade surplus exists.
C) a trade deficit exists.
D) receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world.

Question 2

Which of the following is an economic argument used to explain why slavery persisted in the U.S.?

(a) Slavery crushed out individualism among slaves.
(b) The social structure of slavery did not permit black leaders to lead revolts.
(c) Slavery was an overall moral institution.
(d) Slavery was a rational institution.