Which of the Following Statements Is Most Correct

question 61

Multiple Choice

Which of the following statements is most correct?

• A)While the dollar amount of imports decreased dramatically in 2006 compared to 2003, they actually increased in 2009 relative to the 2006 level; this development reflects the impact of the 2007-09 financial crisis and the weakening of the U.S.dollar relative to other major currencies as the decade of the 2000s came to a close.
• B)While the dollar amount of imports increased dramatically in 2006 over 2003, they actually fell in 2009 relative to the 2006 level; this development reflects the impact of the 2007-09 financial crisis and the weakening of the U.S.dollar relative to other major currencies as the decade of the 2000s came to a close.
• C)While the dollar amount of imports increased dramatically in 2006 over 2003, they actually fell in 2009 relative to the 2006 level; this development reflects the impact of the 2007-09 financial crisis and the strengthening of the U.S.dollar relative to other major currencies as the decade of the 2000s came to a close.
• D)While the dollar amount of imports decreased dramatically in 2006 compared to 2003, they actually fell in 2009 relative to the 2006 level; this development reflects the impact of the 2007-09 financial crisis and the strengthening of the U.S.dollar relative to other major currencies as the decade of the 2000s came to a close.
• E)none of the above.

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Definitions:

Price Levels

A summary measure of the current prices for goods and services across the whole economic output.

Shortage

A situation where the demand for a product exceeds its supply at a particular price.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in its price, with higher elasticity indicating greater sensitivity.

Ticket Revenue

The income generated through the sale of tickets for events, performances, or transportation services.