What are the dependencies in U.S. and World Trade
What are the dependencies in U.S. and World Trade?
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1. U.S. depends on imports for many food items (bananas, coffee, tea, spices); raw silk, diamonds, natural rubber, much petroleum.
2. On the export side, agriculture relies on foreign markets for one-fourth to one-half of sales; chemical, aircraft, auto, machine tool, coal, and computer industries also sell major portions of output in international markets.
Explain the statement: “Facts serve to sort out good and bad hypotheses.”?
Elucidate Participants in international trade of U.S. and World Trade?
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Why is the problem of unemployment a part of the subject matter of economics?
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While productive resources are utilized efficiently: (w) prices greatly exceed production costs for current outputs. (x) opportunity costs are at their minimums for all goods. (y) domestic production exceeds the value of foreign output. (z) the value
What are the Examples and Applications of International Trade?
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Give a brief introduction of the term Cost of retained earnings?
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