Compared to the situation before international trade, after the United States imports a good production in the United States ________ and consumption in the United States ________
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
C
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In an open economy, gross domestic product equals $1,970 billion, government expenditure equals $300 billion, investment equals $500 billion, and net capital outflow equals $280 billion. What is consumption expenditure?
a. $280 billion b. $780 billion c. $890 billion d. $1,170 billion
Which of the following is not part of a negative income tax?
A. A positive tax rate B. A guaranteed income C. Cash transfers D. Transfers in kind
Last year the Jones family earned $40,000. This year their income is $42,000. In an economy with an inflation rate of 10 percent, which of the following is correct?
A. The Jones' nominal income and real income have both fallen. B. The Jones' nominal income and real income have both risen. C. The Jones' nominal income has increased and their real income has fallen. D. The Jones' nominal income has decreased and their real income has risen.
A high concentration ratio is the only way to achieve market power.
Answer the following statement true (T) or false (F)