When the Price Level in the United States Falls Relative

question 239

Multiple Choice

When the price level in the United States falls relative to the price level of other countries,________ will fall,________ will rise,and ________ will rise.

• A)imports; exports; net exports
• B)exports; imports; net exports
• C)net exports; exports; imports
• D)net exports; imports; exports

---

Definitions:

Purchased

Acquisition of goods or services in exchange for money or its equivalent.

Required

Mandatory or necessary conditions or items specified for a particular purpose or activity.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Fees Earned

Income received from providing services, a form of revenue for professionals and businesses engaged in service activities.