A price level increase tends to reduce net exports, thereby reducing the amount of real goods and services purchased in the United States. Economists refer to this phenomenon as
A) the barrier effect. B) the Gross Domestic Product (GDP) effect.
C) the open-economy effect. D) the wealth effect.
Question 2
A free market is a market:
A) that has price controls imposed by a ruling authority.
B) where almost all exchanges take place involuntarily.
C) where determination of equilibrium quantity is free from the forces of demand and supply.
D) that operates with little or no government control.
China’s 8% annual increase in oil consumption
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Regular staff meetings increase the efficiency of the medical office staff.
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The developed countries must reduce the level of greenhouse gas emissions