Suppose there are only two goods: guns and roses. If the relative price of guns falls, then the relative price of roses
a. must also fall.
b. must rise.
c. is unaffected.
d. could rise, fall, or remain unchanged.
b. must rise.
Economics
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What will be an ideal response?
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The net exports effect is the direct relationship between net exports and the price level of an economy
a. True b. False Indicate whether the statement is true or false
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Which of the following countries had double-digit inflation for most of the years from 2000 to 2010?
a. India b. Iran c. Italy d. Iraq
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Economists feel that national security concerns never provide a legitimate rationale for trade restrictions
a. True b. False Indicate whether the statement is true or false
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