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 91 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?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

For a complete list of videos, visit our video library