8. Draw the goods market. Illustrate and explain how the market equilibrium would change under the...
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Economics
8. Draw the goods market. Illustrate and explain how the marketequilibrium would change under the following circumstances:
a. The U.S. dollar gained value compared to foreigncurrencies.
b. American corporations have become leaner which means thatproductivity in the U.S. has increased. Hint: How are prices in theU.S. affected, relative to foreign prices?
c. There is a decrease in transfer payments (ie, items likespending on social programs).
8. Draw the goods market. Illustrate and explain how the marketequilibrium would change under the following circumstances:
a. The U.S. dollar gained value compared to foreigncurrencies.
b. American corporations have become leaner which means thatproductivity in the U.S. has increased. Hint: How are prices in theU.S. affected, relative to foreign prices?
c. There is a decrease in transfer payments (ie, items likespending on social programs).
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