If a Nation Imports a Good When the Economy Is

question 21

Multiple Choice

If a nation imports a good when the economy is opened to trade,the domestic price of the good will _____ and domestic consumption will _____.

• A)rise;rise
• B)rise;fall
• C)fall;rise
• D)fall;fall

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Definitions:

Financial Management

The practice of planning, directing, and controlling financial activities such as procurement and utilization of funds of an enterprise.

HR Management

The practice of recruiting, managing, and developing an organization's employees to maximize their performance.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization, focusing on converting materials and labor into goods and services as effectively as possible.

Customer Relationship Management

A strategy for managing an organization's interactions with current and potential customers using data analysis about customers' history.