If countries that imported goods and services from the United States went into recession, we would expect that U.S. net exports would
a. rise, making aggregate demand shift right.
b. rise, making aggregate demand shift left.
c. fall, making aggregate demand shift right.
d. fall, making aggregate demand shift left.
d
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A person's tax obligation divided by her income is called her
a. marginal social tax rate. b. marginal private tax rate. c. marginal tax rate. d. average tax rate.
John gave up a night of pizza with friends to study for his calculus exam. He is illustrating which concept?
a. The Time Value of Money b. Opportunity Cost c. Sunk Cost d. Comparative Advantage
An example of a shortage is limited amounts of
What will be an ideal response?
The marginal revenue product schedule is a
A. demand schedule for a final product. B. demand schedule for a resource. C. supply schedule for a final product. D. supply schedule for a resource.