If the value of the domestic currency depreciates:
a. Aggregate demand rises, but aggregate supply does not change.
b. Aggregate demand falls and aggregate supply rises.
c. Aggregate demand rises and aggregate supply rises.
d. Neither aggregate demand nor aggregate supply change.
e. Aggregate demand rises and aggregate supply falls.
.E
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High price and low total utility indicate
A. low marginal utility. B. large quantities are sold. C. high marginal utility. D. a high price/marginal utility ratio.
All other things constant, the entry of new firms into a labor intensive industry like carpet weaving is likely to: a. shift the market demand for labor curve to the right
b. make the market demand for labor curve steeper. c. shift the demand for labor curve for each carpet producer to the left. d. shift the market supply of labor curve to the left.
The U.S. Bureau of Labor Statistics forecasts that by 2024, total employment in U.S. manufacturing will
A) decline to 11.4 million. B) increase to 12.3 million. C) remain the same as it was in 2016. D) virtually cease to exist.
A nation's real GDP was $250 billion in 2013 and $265 billion in 2014. Its population was 120 million in 2013 and 125 million in 2014. What is its real GDP growth rate in 2014?
A. 15.0% B. 6.0% C. 5.7% D. 1.1%