In 2009, U.S. Net Exports Were

question 217

Multiple Choice

In 2009, U.S. net exports were

• A)positive and about 3 percent the size of GDP.
• B)positive and about 6 percent the size of GDP.
• C)negative and about 3 percent the size of GDP.
• D)negative and about 6 percent the size of GDP.

---

Definitions:

Quantity Supplied

The total amount of a product that producers are willing and able to sell at a given price over a specified period.

Equilibrium Price

The price at which the quantity of a good or service offered by suppliers equals the quantity demanded by consumers.

Shortage

A market condition where the demand for a product exceeds its supply at a particular price, often leading to price increases.

Market Price

Represents the amount of money that a buyer is willing to pay and a seller is willing to accept for a good or service at a particular time.