U.S. Exports Tend to Decrease When

question 188

Multiple Choice

U.S. exports tend to decrease when

• A) economic activity abroad is increasing.
• B) foreign GDPs are rising.
• C) U.S. prices are rising relative to those in the rest of the world.
• D) the U.S dollar is weak compared to foreign currencies.

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Definitions:

Services

Intangible products provided to consumers, such as healthcare, education, banking, and entertainment, which do not result in the ownership of any physical goods.

Basic Resources

The fundamental inputs used for production, including land, labor, capital, and entrepreneurship.

Entrepreneurial Ability

This refers to the skills and qualities that enable an individual to identify business opportunities, start, develop, and manage a business successfully.

Households

Units that consist of one or more people living together, who make joint decisions on consumption and other economic activities.