When the prices of U.S.-produced goods rise and the price of foreign-produced goods do not change, the result is
A) an increase in exports.
B) a decrease in exports.
C) a decrease in imports.
D) no change in imports or exports.
Question 2
Moving from one point on the production possibilities frontier to another ________.
A) involves a tradeoff but does not incur an opportunity cost
B) involves an opportunity cost but no tradeoff
C) involves a tradeoff and incurs an opportunity cost
D) involves no tradeoff but it does incur an opportunity cost
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