The impact lag is the time between putting a policy in place and when its effects are felt in the economy.

The gross domestic product of a small country which has a population of 200,000 is $56,000,000. The income per capita of the country is ________

A) $280 B) $200 C) $50 D) $100

The change in aggregate expenditures resulting from a movement in the domestic price level, which in turn changes the price of domestic goods in relation to foreign goods, is known as the:

a. international trade effect. b. multilateral equilibrium condition. c. international exchange rate effect. d. magnified international pricing effect. e. international deficit effect.