A decrease in U.S. prices relative to prices in Europe
A. will increase U.S. imports from Europe.
B. will decrease U.S. exports to Europe.
C. will not affect U.S. trade with Europe.
D. will decrease European exports to the United States.
Answer: D
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Indicate whether the statement is true or false
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The diagram concerns supply adjustments to an increase in demand (D1 to D2) in the immediate period, the short run, and the long run. Supply curves S1, S2, and S3 apply to the
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A. short run, long run, and immediate period respectively.
B. long run, short run, and immediate period respectively.
C. immediate period, long run, and short run respectively.
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