Everything Else Held Constant,if a Factor Decreases the Demand for ________

question 2

Multiple Choice

Everything else held constant,if a factor decreases the demand for ________ goods relative to ________ goods,the domestic currency will depreciate.

• A)foreign;domestic
• B)foreign;foreign
• C)domestic;domestic
• D)domestic;foreign

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Definitions:

Price Ceiling

A legally imposed limit on how high a price can be charged for a product, service, or resource.

Quantity Demanded

The total amount of a goods or services consumers are willing and able to purchase at a specific price point.

Quantity Supplied

The total amount of a product that producers are willing and able to sell at a given price over a specified period of time.

Nonprice Rationing

Methods of distributing goods or services using criteria other than price, such as queues or rationing cards.