In a recent year, U. S. advertisers spent $60 billion on television advertising. This number made up 40 percent of total advertising. What was the dollar amount spent by U. S. advertisers on all other forms of advertising? How many billions?

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.