When the price level is low, resulting in domestic goods being cheaper than imported foreign goods,
A) there will be a reduction in import tariffs. B) the demand for domestic goods will increase.
C) consumers hold more money. D) consumers spend less.
B
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Refer to the scenario above. What is Wendy's opportunity cost of producing one greeting card?
A) 0.25 earrings B) 0.5 earrings C) 1 earring D) 2 earrings
The level of income is unchanged in response to unanticipated anti-inflation policy in ________
A) real business cycle theory B) traditional Keynesian theory C) new Keynesian theory D) post classical theory
Net benefit is equal to total benefit minus marginal cost.
Answer the following statement true (T) or false (F)
Attempts to influence interest rates, credit conditions, and the money supply are called
A. mixed economic policy. B. discounting. C. moral suasion. D. monetary policy.