Econ 110B Ch19 Questions

Econ 110B Ch19 Questions - Economics 110B Practice...

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Economics 110B Practice Questions for Chapter 19 Questions 1) What is the difference between the demand for domestic goods and the domestic demand for goods ? 2a) What factors determine the level of exports in a country? How do changes in these factors alter the level of exports? 2b) What factors determine the level of imports in a country? How do changes in these factors alter the level of imports? 3) Explain why the demand for domestic goods curve (ZZ) has a different shape than the domestic demand curve (DD). 4) Consider an open economy in which the government chooses to increase taxes. Graphically illustrate the effects that this policy will have on output, exports, imports, and net exports in the short run. Clearly label all curves and clearly label the initial and final equilibria. Describe in words the effects of this policy on the economy in the short run. 5) Consider an open economy. Suppose that the level of foreign output increases. Graphically
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