In our modern economy, the adjustment process necessary to eliminate a recessionary gap is very rapid

When we calculate the price elasticity of demand, we use percentages of the average price and the average quantity in order to get the same value for the elasticity regardless of whether the price falls or rises

Indicate whether the statement is true or false

When Mexico's exchange rate depreciated dramatically in 1994,

a. American exports to Mexico increased b. American exports to Mexico declined c. Mexican tourism to the U.S. increased d. American tourism to Mexico decreased e. Mexicans received more dollars for their peso