The Change in the Domestic Price Level That Causes Consumers

question 2

Multiple Choice

The change in the domestic price level that causes consumers to substitute into or out of relatively cheaper or relatively more expensive imported goods is called

• A)the substitution-of-foreign-goods effect.
• B)the wealth effect or real-balances effect.
• C)the constant nominal income effect.
• D)long-run equilibrium.

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Definitions:

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Bonita's Share

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Whole Business

A term often used in finance and economics referring to considering all aspects and operations of a business entity as a total entity.

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