Which of the following will cause a change in the exchange rate?
A) changes in real interest rates
B) changes in consumer preferences
C) changes in the perception of economic stability
D) all of the above
D
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GDP is used as the basic measure of a society's economic well-being. A better measure of the economic well-being of individuals in society is
a. saving per person. b. GDP per person. c. government expenditures per person. d. investment per business firm.
Figure 17-2
Given the situation in graph (1) in Figure 17-2, what action could be expected from the economy's self-correcting mechanism?
a.
an increase in aggregate demand
b.
a decrease in aggregate demand
c.
an increase in aggregate supply
d.
a decrease in aggregate supply
16) In the figure above, Point A is undesirable because A) there is an inefficient use of resources. B) too much healthcare is being produced. C) the opportunity costs of health care are too high. D) point E is a more realistic option in this economy.
Refer to the above figure. Suppose the economy is now at point B. In the long run, the price level will most likely be.
A. 20 B. 40 C. 45 D. higher than 45