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7 5 points In a small open economy with a floating exchange rate, if the government imposes a tariff on foreign goods, then in the new short-run equilibrium: O imports will decrease and exports will decrease by an equal amount. imports will decrease while exports remain constant, leading to a rise in net exports. imports will increase and exports will decrease by an equal amount. O imports will decrease and exports will increase, leading to a rise in net exports. 8 5 points If the price level is higher than expected, then (answer all that apply) there was a supply shock. output exceeds the natural rate of output. output is below the natural rate of output. households and firms adjust their price expectations in the long run and the SRAS curve shifts