For the United States automobiles are ?
Correct answer: C. Exported and imported
- A. Imported, but not exported
- B. Exported, but not imported
- C. Exported and imported
- D. Neither imported not exported
Explanation
The United States both imports automobiles from foreign producers and exports vehicles to overseas markets. International trade commonly involves two-way exchange within the same broad industry.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,742 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Microeconomics questions
The real income of domestic producers and consumers can be increased by ?
Technological improvements are similar to international trade since they both ?
A reduced share of the world export market for the United States would be attributed to?
In the economy when a steel producer sells steel to car producer it is regarded as ?
The Ultimate effect of the invisible hand of Adam Smith is that in a competitive economy everyone ?
To be considered a good candidate for export cartel, a commodity should ?