The net effect of a stronger dollar on real GDP is
A. dependent on whether the increase in aggregate supply is more or less than the decrease in aggregate demand.
B. an increase in real GDP.
C. an increase in the price level.
D. a decrease in real GDP.
Answer: A
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Indicate whether the statement is true or false
A majority of the commercial banks in the United States are not members of the Fed
a. True b. False Indicate whether the statement is true or false
If bread costs $1 per pound and meat costs $4 per pound, a consumer whose marginal utility of meat equals 80 utils per pound is maximizing utility only if the marginal utility per pound of bread equals
a. 4 utils b. 5 utils c. 10 utils d. 20 utils e. 80 utils
If a firm is experiencing economies of scale, then as the firm's output rises, its average total cost ________.
A. becomes negative B. falls C. rises D. does not change