If u.s. produced goods become more expensive than foreign-produced goods, imports will increase . At the same time, exports will decrease.
Import goods are goods that are brought into the US from foreign countries. Export goods are goods that are sold by the US to foreign countries.
When the price of a good is higher than it was before, the demand for the good will decrease. On the other hand, if the price of the good decreases, the demand for the good would increase. This is why the demand curve is downward sloping.
If US produced goods become more expensive when compared with foreign- produced goods, the demand for US goods will decrease and the demand for foreign made goods will increase. This will lead to an increase in import and a decrease in export.
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