"Similar to Imports, U

question 147

Essay

"Similar to imports, U.S. exports depend on the level of U.S. real GDP so that if real GDP increases, U.S. exports increase." Explain whether the previous sentence is correct or incorrect.

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Definitions:

Demand Curve

The Demand Curve is a graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.

Quantity Demanded

The level of product or service that buyers intend to purchase at various prices.

Increase

A situation where there is a rise in quantity, size, number, value, or intensity of a particular variable or condition.

Complementary Goods

Products or services that are used together, where the demand for one is increased when the price of the other decreases.