When price is above the equilibrium level, competitive price cutting will continue as long as quantity supplied exceeds quantity demanded.

Growth accounting refers to the method used to

A) identify the contribution of economic growth from increased capital, labor, and technological progress. B) measure growth in the capital stock. C) measure the growth in the labor force. D) identify the costs of promises made by the government today but paid for by future generations.

The exchange rate that equates the quantities of currency supplied and demanded in the foreign exchange market is called the ________ exchange rate.

A. target value of the B. market equilibrium value of the C. real value of the D. fixed value of the