The foreign trade effect is when the US price level __________ relative to foreign price levels and the quantity of US goods demanded as net exports decreases.
Fill in the blank(s) with the appropriate word(s).
increases
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The amount of a tax paid by the buyers will be larger the
A) more elastic the demand and the more inelastic the supply. B) more inelastic the demand and the more elastic the supply. C) more inelastic are both the supply and demand. D) more elastic are both the supply and demand.
Angela, Bonnie, and Carl are visiting the local paint store. Angela, owner of Angela's Artful Painting Co, is posting a Help Wanted sign because she is looking for more painters to join her crew. Bonnie, who is a sole proprietor, is placing an order for 12 gallons of green paint. Carl is a painter who is looking for a job and is reading the bulletin board in the paint shop. Who is operating in
the short run? a. Angela and Bonnie b. Angela and Carl c. Angela only d. Bonnie only e. Carl only
The official poverty rate of the United States
A. is lowest today. B. was lowest in the late 1960s. C. has risen steadily since 1981. D. is higher today than at any other time in our history.
Answer the following statements true (T) or false (F)
1) An increase in imports (independent of a change in the U.S. price level) will increase both U.S. aggregate supply and U.S. aggregate demand. 2) An increase in business excise taxes will shift the aggregate supply curve leftward. 3) A decrease in per-unit production costs will shift the aggregate supply curve leftward. 4) The aggregate supply curve (short run) becomes steeper as the economy moves rightward and upward along it. 5) Cost-push inflation is depicted as a rightward shift of the aggregate demand curve along an upsloping aggregate supply curve.