Over time, an increase in the real output and incomes of the trading partners of the United States will most likely:
A. Increase U.S. exports
B. Decrease U.S. exports
C. Increase imports of the U.S.
D. Decrease imports of the U.S.
A. Increase U.S. exports
Economics
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The aggregate expenditure model predicts a business cycle expansion occurs when
A) the aggregate planned expenditure curve shifts downward. B) aggregate supply increases. C) induced expenditure decreases. D) autonomous expenditure increases. E) potential GDP increases.
Economics
Which of the following statements regarding a price-taking firm is correct?
A) Demand = average revenue > marginal revenue. B) Demand = marginal revenue > average revenue. C) Demand = price = average revenue = marginal revenue. D) Demand = price > average revenue > marginal revenue.
Economics