Which of the Following Is True of the United States

question 199

Multiple Choice

Which of the following is true of the United States?

• A)It has been and continues to be a net capital exporter.
• B)It is today the world's largest debtor nation.
• C)It was, until the last decade, a net capital importer.
• D)It has historically been a debtor nation.
• E)It is the world's largest creditor nation.

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Definitions:

Midpoint Formula

A method for calculating the percentage change in a variable by dividing the change by the average of the initial and final values, often used in economics to measure elasticity.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, in a given time period.

Elastic

In economics, elastic refers to how the quantity demanded or supplied of a good responds to changes in its price; high elasticity indicates sensitivity to price changes.

Cross-price Elasticity

Cross-price Elasticity measures the responsiveness of the demand for one good to a change in the price of another good.