Which of the Following Statements Is True

question 65

Multiple Choice

Which of the following statements is true?

• A)Real GDP is a positive function of net exports.
• B)In the 1980s, the United States experienced a large trade surplus with Japan.
• C)Positive net exports mean that the domestic country imports more than it exports.
• D)Total U.S.net exports with Western Europe are zero.
• E)U.S.net exports are negative because of large trade deficits with other industrial nations.

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Definitions:

Inelastic Demand

A situation in which the demand for a product does not significantly change in response to price changes, often because there are few or no substitutes available.

Antidrug Policy

Government or organizational policies aimed at reducing the production, distribution, and consumption of illegal drugs.

Street Crime

Refers to criminal acts that occur in public places such as theft, vandalism, assault, and robbery.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that sellers are willing to offer for sale, holding other factors constant.