Increases in the Prices of Raw Materials Can Create Cost-Push

question 47

True/False

Increases in the prices of raw materials can create cost-push inflation.

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Definitions:

U.S. Exports

The outbound shipment of goods and services from the United States to other countries.

Import Quota

A limitation set by a government on the amount or value of a particular product that can be imported into the country.

Exports

Goods or services sold by one country to another, contributing to the selling country's national income.

Imports

Goods and services purchased from other countries, bringing them into a country's domestic market.