If the exchange rate for Micromania's micros to United States's dollars is 50 micros = $1, then micros have appreciated when the exchange rate becomes

Which of the following predicts that there can be no sustained rise in real GDP per person above the subsistence level?

A) classical growth theory B) neoclassical growth theory C) new growth theory D) None of the above because all predict that there will be a sustained rise above the subsistence level.

If the interest rate on a bond is above the equilibrium interest rate, there is an excess ________ for bonds and the bond price will ________

A) demand; rise B) demand; fall C) supply; rise D) supply; fall