Suppose that increased international trade makes product markets more competitive in the U.S. Given this information, we would expect to observe which of the following?
A) an upward shift in the WS curve
B) a downward shift in the WS curve
C) an upward shift in the PS curve
D) a downward shift in the PS curve
E) none of the above
C
Economics
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Which of the following is not true about gross domestic product (GDP)? a. It includes only final goods and services
b. It reflects production in a particular year. c. Intermediate goods and services are excluded to prevent double counting. d. It excludes purchases of financial assets. e. It includes transfer payments.
Economics