When the Prices of U

question 97

Multiple Choice

When the prices of U.S.-produced goods rise and the price of foreign-produced goods do not change , the result is

• A) a decrease in imports.
• B) a decrease in exports.
• C) no change in imports or exports.
• D) an increase in exports.

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Definitions:

Events

Occurrences or happenings, especially significant ones that can be statistically analyzed.

Possible Outcomes

Refers to all the potential results that can occur in any probabilistic or random event.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Sampling Error

Refers to the difference between the population parameter and the sample statistic due to the fact that the sample is not a perfect representation of the population.