The Table Below Shows National Income and Imports

question 22

Multiple Choice

The table below shows national income and imports.The level of exports is fixed at $300.All figures (in table and questions) are in millions of dollars.
TABLE 22-1
-Refer to Table 22-1.In this economy,if actual national income increases by $600,the level of imports will

• A)rise by $30.
• B)rise by $60.
• C)rise by $100.
• D)fall by $100.
• E)not change.

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Definitions:

Industry Tightening

A period where industry competition becomes more intense, often leading to consolidation, increased regulation, or higher barriers to entry.

Monopolistic Competition

A market structure characterized by many competitors selling products that are similar but not identical.

Pure Competition

A market structure characterized by a large number of sellers offering identical products, where no single seller can influence market prices.

Substitutes

Products or services that can serve as replacements for each other, fulfilling the same need or desire.