An Increase in Imports Will

question 188

Multiple Choice

An increase in imports will

• A)cause a downward movement along the AD curve.
• B)cause an upward movement along the AD curve.
• C)shift the AD curve to the right.
• D)shift the AD curve to the left.
• E)have no effect on the AD curve.

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Definitions:

Accounts Payable

Amounts owed by a company to suppliers or vendors for goods or services received but not yet paid for, recognized as a current liability on the balance sheet.

General Journal

A primary accounting record where financial transactions are entered before posting to ledger accounts.

General Ledger

The primary accounting record of a business which contains all the balance sheet and income statement accounts.

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit account column totals that are equal.