Economic theory and experience since 1973 indicate that, under floating exchange rates, a country's fiscal and monetary policies in the short-run and the long-run can
A) have both domestic and foreign economic impact.
B) have domestic or foreign economic impact, but not both.
C) have domestic but not foreign economic impact.
D) have foreign but not domestic economic impact.
E) have neither domestic nor foreign economic impact.
A
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Aggregate output is ________ related to autonomous consumer expenditure, and is ________ related to planned investment spending
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
One basic difference between "labor" and "entrepreneur" is that:
A. Labor is hired by a firm whereas the entrepreneur owns the firm B. An entrepreneurs has high-level skills whereas labor does not C. Labor performs manual work whereas an entrepreneur performs mental work D. Education is important for an entrepreneur but not for labor