If the price of mozzarella cheese (an ingredient in pizzas) declines due to a major technological breakthrough in the dairy industry, there would be:

A tariff is

a. a law restricting the quantity of a good that may be imported b. a tax imposed on imports c. a penalty imposed on consumers for supplying goods to a market d. the terms of trade between two nations e. the ratio of opportunity costs in two nations

When an economist states that the monetarist transmission mechanism is "direct" it means that a change in the money supply creates a direct impact on the goods and services market

Indicate whether the statement is true or false