In the above figure, the economy is initially at point B. If the exchange rate falls, there is
A) a movement to point C.
B) a movement to point A.
C) a shift to AD2.
D) a shift to AD1.
D
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The short-run Phillips curve is another way of looking at
A) aggregate supply. B) Okun's Law as applied to aggregate demand. C) potential GDP. D) aggregate demand. E) the natural rate of unemployment.
The _____________ is a measure of the goods and services affordable and available to consumers
a. standard of living b. level of living c. consumption standard d. online consumer survey
The basic idea behind the convergence theory is:
A. that countries starting at low levels of income will tend to grow at much faster rates than those starting with high levels of income. B. each additional unit of capital provides larger gains when you're coming from behind. C. also the basic idea behind the catch-up effect. D. All of these are true.
An optimal purchase is one that maximizes total utility.
Answer the following statement true (T) or false (F)