MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Question
Chapter 9, Problem 1DQ
To determine
To describe: The imbalance due to higher imports and lesser exports in US economy and the reasons thereof.
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Students have asked these similar questions
Which of the following could be a cause for imports not decreasing despite policy measures taken?
Select One:
a) Imports constitute consumer goods
b) Demand is elastic
c) Goods are luxuries
d) Imports constitutes capital goods
e) Export demand is inelastic
In the country of Mordor, the government spent $100 million on swords. Prices do not rise at all, and GDP increases by $200 million. People in Mordor
spent 70% of every dollar they received. What percent of every dollar did they spend on imported goods and services? If you think the answer is 29%, write
29. If you think the answer is zero percent, write 0.
Answer:
Why are aircraft one of the United States' greatest exports?
The demand for aircraft is high.
The US has a great deal of technological knowledge.
The American dollar is cheap compared to other currencies.
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