Solved

When Consumers Buy More Imported Goods in Response to Increases

Question 55

Multiple Choice

When consumers buy more imported goods in response to increases in the domestic price level, this is known as the

A) external shock effect.
B) real economy effect.
C) open economy effect.
D) substitution effect.

Related Questions

Q50: Consumers purchase more foreign goods when the

Q51: Suppose that, over time, an economy has

Q52: How is aggregate demand affected if taxes

Q53: How does immigration affect aggregate supply?

Q54: A shift in aggregate demand will change

Q56: The downward slope of aggregate demand shows

Q57: How is the equilibrium level of real

Q58: Which one of the following would most

Q59: Households receive money income from selling factor

Q60: If business inventories accumulate, the _ _