A major factor in changing levels of imports in an open economy is:
a. real international rates of interest.
b. relative international price levels.
c. a change in a nation's disposable income.
d. a change in transportation costs.
Answer: c. a change in a nation's disposable income.
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In Alan Lakein's book How to Get Control of Your Time and Your Life, he states that daily time use should be directly related to:
a. Resources b. Goals c. Values d. Attitudes
As more bananas are consumed, marginal utility decreases at
a. the same rate for all people, approaching but never reaching zero b. the same rate for all people, and eventually becomes negative c. different rates for different people, and for everyone, it approaches but never reaches zero d. different rates for different people, and eventually, for everyone, it becomes negative e. different rates for different people, and eventually reaches zero where it remains (it cannot be negative)