Last year in the US consumption totaled $11 trillion, investment totaled $3 tril

Question

Last year in the US consumption totaled $11 trillion, investment totaled $3 trillion, government spending totaled $3 trillion, exports totaled $1.5 trillion, and imports totaled S3.5 trillion. What was the openness of the US for last year (rounded to two decimal places)? Can reduce cost and increase competitiveness for the outsourcing firm Can increase costs n the outsourced to country Harms specific individuals AM of the above Peanut imports are taxed at a rate of $0.0935 per kilogram for the first 30.393 tons of imports, any imports after this level are taxed at an ad valorem rate of 187.9%. This is an example of a quota. Predatory dumping. Refers to temporarily reducing the price of a good in a foreign market in order to drive out foreign competition Is illegal under the WTO Is empirically impossible in the long-run all of the above Tariffs are applied at a greater rate (level) on luxury items than on basic items.

Explanation / Answer

Question 17: What was the openness of the U.S. for last year (rounded to two decimal places)

* 0.14

Question 18: Outsourcing:

* Can reduce cost and increase competitiveness for the outsourcing firm.

Question 18: This is an example of a:

* Tariff rate.

*****

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