Other things constant, if domestic consumers purchase fewer foreign goods at each level of GDP, in the short run
A. foreign countries' GDP will rise.
B. GDP will fall.
C. GDP will rise.
D. there will be no change in GDP in this country.
Answer: C
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Jake plans to spend $100 on fried chicken and Pepsi. The price of a fried chicken is $5 and Pepsi is $2 per bottle. If Jake buys 10 fried chickens how many bottles of Pepsi can he buy?
A) 50 B) 10 C) 25 D) 75
Which of the following activities would occur in the product market?
a. Harry mows his grass. b. General Motors hires additional workers to run a third shift at the factory. c. Sam pays a speeding ticket. d. Dolly buys a ticket to the ball game. e. Jane bakes a pie for Thanksgiving dinner.
Suppose that Tom bought a bike from Helen for $195. If Helen's reservation price was $185, and Tom's reservation price was $215, the total economic surplus from this transaction was:
A. $195 B. $30 C. $215 D. $185
If we are going to get the most value from our resources, entrepreneurs should choose the investment alternatives that
What will be an ideal response?