Which of the following statements regarding imports and exports is true?
A) Both imports and exports vary directly with the level of domestic income.
B) Both imports and exports vary inversely with the level of domestic income.
C) Imports vary directly with the level of domestic income; exports are independent of the level of domestic income.
D) Exports vary directly with the level of domestic income; imports are independent of the level of domestic income.
E) Both imports and exports are independent of the level of domestic income.
Correct Answer:
Verified
Q1: A decrease in U.S. income would lead
Q3: If the U.S. economy were to go
Q4: U.S. net exports will increase if
A)U.S. income
Q5: An increase in the value of the
Q6: A decrease in the value of the
Q7: U.S. economic growth does not contribute to
Q8: If one British pound originally exchanges for
Q9: U.S. net exports will fall if
A)U.S. income
Q10: A decrease in the value of the
Q11: An increase in U.S. income would lead
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