When people become underemployed, they not only lose income immediately, but they may also have a permanent decrease in income even after regaining employment

Which economist made the following statement: "Every major contraction in the U.S. economy has either been created or greatly exacerbated by monetary instability. Every major inflation has been caused by monetary expansion."

a. Milton Friedman b. John Maynard Keynes c. Adam Smith d. Paul Samuelson

How does a decrease in value of a country's currency relative to other currencies affect its balance of trade?

A) A decrease in value of a country's currency relative to other currencies raises imports, reduces exports, and reduces the balance of trade. B) A decrease in value of a country's currency relative to other currencies reduces imports, raises exports, and reduces the balance of trade. C) A decrease in value of a country's currency relative to other currencies reduces imports, raises exports, and increases the balance of trade. D) A decrease in value of a country's currency relative to other currencies raises imports, reduces exports, and increases the balance of trade.