Explain the impact of each of the following on our country's exports and imports: a. Our domestic
Question:
a. Our domestic product and income increase.
b. Foreign domestic product and income decrease.
c. Our price level increases by 5 percent, with no change in the (nominal) exchange-rate value of our currency and no change in the foreign price level.
d. Our price level increases by 5 percent, the foreign price level increases by 10 percent, and there is no change in the (nominal) exchange-rate value of our currency?
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a Imports increase according to the marginal propensity to import b Our exports decr...View the full answer
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