If Canada Wants to Increase Its Net Exports, Other Things

question 82

Multiple Choice

If Canada wants to increase its net exports, other things equal, it might take steps to:

• A)increase its GDP.
• B)reduce existing tariffs and import quotas.
• C)decrease the dollar price of foreign currencies.
• D)increase the dollar price of foreign currencies.

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in a open market.

Variable Costs

Variable costs are those expenses that change in proportion to the volume of goods or services that a business produces.

Cost Driver

A factor that influences or contributes to the expense of certain business operations or activities.

Support Department

Units within an organization that provide essential services or assistance to revenue-generating departments but do not directly generate revenue themselves.