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Economics

If the United States imports a specific product and exports a different product, what is the likely effect on the price of the product that the United States imports?

a) The price of the imported product increases because demand for the product increases.

b) The price of the imported product increases because the overall supply of the product decreases.

c) The relative price of the imported product decreases in the United States and increases in the rest of the world.

d) The price of the imported product decreases both in the United States and in the countries that export the product to the United States.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91519431

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