Net exports will tend to be low when the real exchange rate:

The total of all planned expenditures in the entire economy is the definition of

A) production possibilities curve. B) aggregate demand. C) net domestic product. D) aggregate supply.

Among the characteristics of the command-and-control approach to pollution reduction is that it is

A. easily adjusted to changes in marginal costs of pollution reduction across firms. B. less costly than a carbon tax. C. typically inflexible and thus quite expensive. D. less costly than cap-and-trade systems.