Question: (7) Indicate whether the following statements are True (T), False (F), or Uncertain (U) and (most important) explain why. (a) The United States has a

(7) Indicate whether the following statements are True (T), False (F), or Uncertain (U) and (most important) explain why. (a) The United States has a trade deficit with Germany, primarily because we purchase lots of their automobiles. This persistent deficit is evidence that it is getting ripped off and taken advantage of by the Germans. I (b) The U.S. Congress should pass a law requiring all government agencies and offices to buy only from U.S.-based firms. (c) 2021-2022 in-state tuition and fees at Old Dominion are $360 per credit hour. This means the T&F charge for Econ 301 is $1,080. Students who fail the course or drop it after the last drop date and cannot get a refund have been ripped off and the $1,080 is a good measure of the size of the rip off. (d) Because individuals such as Jeff Bezos earn so much, the distribution of income in the U.S. is more unequal than the distribution of wealth

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