If exchange rates are floating, the Fed increasing its target inflation rate will cause the dollar to ________ relative to other currencies and cause net capital outflows to ________

In 2004, retailers and exporters in the United States were happy, as were their customers from abroad, due to:

a. a reduction in import tariffs by the EU. b. the lifting of an embargo on U.S. exports to Germany. c. the high value of the U.S. dollar compared to other currencies. d. the low value of the U.S. dollar compared to other currencies.

What is economic profit?

A) gross revenue minus explicit costs B) gross revenue minus implicit costs C) gross revenue minus explicit and implicit costs D) the same as accounting profit