Which of the following would be part of the Thai demand for U.S. dollars?

a. A Thai street seller trying to sell a shirt to an American tourist
b. A Thai bank selling dollars it possesses in exchange for euros
c. An American exchanging dollars for Thai bahts that she will spend on her next vacation to Bangkok
d. A Thai export company selling its products in the American markets
e. A Thai importer who wants to buy a Caterpillar tractor


e

Economics

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According to Gordon, a major problem with Keynes' "rigid nominal wage" theory of the business cycle is

A) a horizontal LM curve. B) it is not a market clearing theory. C) falling real wages are not countercyclical with business activity or Y. D) None of the above.

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If economists say that a 7 percent growth in the money supply will increase aggregate demand by 7 percent, they are assuming that velocity

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Economics