If USConsumers Increase Their Demand for Apples from New Zealand,then Other

question 178

Multiple Choice

If U.S.consumers increase their demand for apples from New Zealand,then other things the same New Zealand's

• A)imports and net exports rise.
• B)imports rise and net exports fall.
• C)exports and net exports rise.
• D)exports rise and net exports fall.

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Definitions:

Purely Competitive

A market structure characterized by many buyers and sellers, where no single entity can influence the market price.

Resource Demand

The desired quantity of a resource that businesses and individuals are willing and able to consume at a given price.

Demand Factors

Elements that influence the quantity of a product or service consumers are willing to buy at a given price, such as income levels, tastes, and price of substitutes.

Product Price

The financial cost of obtaining a product or service.