As the price level in Canada rises, consumers switch to cheaper Canadian products and services.

Name: As the price level in Canada rises, consumers switch to cheaper Canadian products and services.
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Question

Quizplus · Accepted Answer

As the price level in Canada rises, consumers may actually switch to cheaper foreign products and services, rather than to more expensive Canadian options. This is because higher domestic prices make foreign products relatively more attractive.

As the Price Level in Canada Rises, Consumers Switch to Cheaper