If Europe experienced an inflation rate greater than that experienced in the United States, ceteris paribus, then ______.
a. European goods would become relatively more expensive to U.S. consumers
b. Europeans would decrease the quantity of U.S. goods demanded
c. U.S. goods would become relatively more expensive to European consumers
d. U.S. residents would increase the quantity of European goods demanded
a. European goods would become relatively more expensive to U.S. consumers
You might also like to view...
Which of the following are equal to one another?
I. aggregate production II. aggregate expenditure III. aggregate income A) I equals II, but not III. B) I equals III, but not II. C) II equals III, but not I. D) I equals II equals III.
Price = MR only if the price is fixed
Indicate whether the statement is true or false
Information technology lowered ______________ and increased ______________ from nonbank financial institutions
Fill in the blank(s) with the appropriate word(s).
A period of time in which the overall pace of business activity is falling is known as
A. deflation. B. an expansion. C. inflation. D. a contraction.