Refer to the scenario above. The country's net exports during that year were ________

In the aggregate expenditures model, if aggregate expenditures (AE) are less than GDP, then GDP decreases

a. True b. False Indicate whether the statement is true or false

Suppose a U.S. importer purchases "Mexican Oaxaca" cheese for $500 . If the present exchange rate is Mexican peso (MXP) 10 per U.S. dollar, and the MXP appreciates 10 percent against the U.S. dollar between the date of purchase and the date of payment, then the peso value of the invoice when payment is due is:

a. MXP 500. b. MXP 550. c. MXP 4,500. d. MXP 5,500. e. MXP 4,450.