The trade feedback effect includes all of the following steps except
A. an increase in U.S. exports stimulates U.S. economic activity.
B. an increase in U.S. economic activity stimulates U.S. imports.
C. an increase in foreign income stimulates U.S. imports.
D. an increase in foreign imports stimulates U.S. exports.
Answer: C
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Indicate whether the statement is true or false
If the inflation rate in an economy is 5 percent and the income earned by workers increases by 5 percent, then _____
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Suppose that the supply curve for a good is vertical. In this case we would expect
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Scarce was described as which of the following
a) when it's freely available b) when it's not a lot of it c) when there is a lot of it d) when it's not available