According to the text, grass mowing, T-shirt production, and potato farming are examples of firms
a. that regularly advertise to increase market share
b. whose markets are highly seasonal
c. with high production differentiation
d. with high brand loyalty
e. with no barriers to entry
E
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The curve that shows the relationship between net exports and the real exchange rate is:
A) upward sloping. B) horizontal. C) downward sloping. D) vertical.
A problem with the use of aggregate demand management to stabilize the business cycle is that
A. fiscal policy takes a long time to have any impact on the economy. B. monetary policy isn't available to use when interest rates are already rising because of higher inflation. C. the precise amount that output will change in response to monetary or fiscal policy isn't known. D. monetary policy is difficult to use, because the decision-making process is long and complicated.