When technology improves in a country with a fast-growing population ________
A) output rises, but output per person does not
B) output rises in that country, while output per person rises in other countries
C) output per person rises in that country and around the world
D) output per person rises temporarily, then declines
C
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In the open economy macroeconomic model, the price that balances supply and demand in the market for foreign-currency exchange model is the
a. nominal exchange rate. b. nominal interest rate. c. real exchange rate. d. real interest rate.
A transfer payment is a sum of money
A. spent by government for new goods and services. B. shifted between members of a household. C. given by government without a good or service in exchange. D. moved between companies for goods and services. E. required to pay taxes.