Which of the Following Would Cause a Change in Imports

question 17

Multiple Choice

Which of the following would cause a change in imports?

• A)A change in foreign income
• B)A change in foreign consumption
• C)A change in domestic tastes for foreign products
• D)A change in foreign tastes for domestic products
• E)A change in domestic investment spending

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Definitions:

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical.

Marginal Cost

The increase in costs from making an additional unit of a product or service.

Long-Run Equilibrium

A state in economics where all factors of production are fully adjustable, leading to a situation where no economic agent has an incentive to change its behavior.

Monopolistic Competition

A marketplace setup in which a wide range of companies vend products that are comparable but not clones, enabling some level of market sway.