Which of the following is/are likely to affect the demand for imports?
A. interest rates
B. the after-tax real wage
C. the relative prices of domestically produced and foreign-produced goods
D. all of the above
Answer: D
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Between August 2007 and July 2008, Brazil exported more than 3.5 billion pounds of coffee to the rest of the world. These exports mean that
A) Brazil has comparative advantage in coffee production. B) the rest of the world has comparative advantage in coffee production. C) the rest of the world has absolute advantage in coffee production. D) Brazil has absolute advantage in coffee production.
The price mechanism deals _____ with the issue of an equitable income distribution and ____ with the issue of efficiency.
A. well; well B. poorly; poorly C. well; poorly D. poorly; well
Intermediation in the financial system is the process of:
A. an arbitrator working with government and private firms to create an efficient financial system. B. bringing together buyers and sellers in a market. C. negotiating terms of repayment when agreements between buyers and sellers are in default. D. government intervention in a financial market.
Production quota set below the equilibrium quantity has big effects:
What will be an ideal response?