Author Question: If the price level in the U.S. decreases, aggregate output demanded: a. decreases because U.S. ... (Read 126 times)

madam-professor · **on:** Jun 30, 2018

If the price level in the U.S. decreases, aggregate output demanded:
a. decreases because U.S. products become cheaper relative to foreign products.
b. decreases because U.S. products become more expensive relative to foreign products.
c. increases because U.S. products become cheaper relative to foreign products.
d. increases because U.S. products become more expensive relative to foreign products.
e. decreases because household wealth and spending in the U.S. decrease.

Question 2

Which of the following represents an example of a major cartel in global markets?
a. The Organization of Wheat and Corn Exporting Countries (OWCEC).
b. The Organization of Petroleum Exporting Countries (OPEC).
c. The Brotherhood of Scrap Iron Exporting Countries (BSIEC).
d. The Amalgamated Association of Alfalfa Producing Countries (AAAPC).