In the economic sense, almost everything is scarce. ________ of a good or service occurs when the quantity demanded is greater than the quantity supplied at the current market price

Time inconsistency means

A) taking different decisions at different times despite facing the same situation. B) making policy choices that violate the intertemporal budget constraint. C) deciding to do something tomorrow, and then doing something different tomorrow. D) adding a random factor to decisions.

If purchasing-power parity between France and the U.S. holds, but then U.S. prices rise,

a. the real exchange rate is above its purchasing-power parity value. An increase in the nominal exchange rate can move it back. b. the real exchange rate is above its purchasing-power parity value. A decrease in the nominal exchange rate can move it back. c. the real exchange rate is below its purchasing-power parity value. An increase in the nominal exchange rate can move it back. d. the real exchange rate is below its purchasing-power parity value. A decrease in the nominal exchange rate can move it back.