If the dollar appreciates and the U.S. AD curve shifts _______________ by an amount less than the U.S. SRAS curve shifts __________________, then Real GDP will _________________________

Which of the following is NOT an assumption of the behavior of exchange rates in the short run?

a. The adjustment period of time involves weeks rather than years. b. Market forces are irrelevant and "do not matter." c. Prices of goods adjust slowly and are therefore "sticky." d. Economic actors behave in their own self-interest.

Which of the following relationships correctly identifies the profit maximization condition of a firm in a perfectly competitive market?

A) Marginal cost < Price = Marginal revenue B) Marginal cost > Price = Marginal revenue C) Marginal cost = Price = Marginal revenue D) Marginal cost = Price < Marginal revenue