A depreciation of one's currency means that
a. the country's exports will become more expensive.
b. the country's imports will become more expensive.
c. the country's imports will become less expensive.
d. it now requires less of this currency in exchange for one unit of another currency.
e. it now requires more units of other currencies in exchange for one unit of this currency.
B
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A firm hires labor up to the point where the
A) real wage rate equals the nominal wage rate. B) real wage rate exceeds the nominal wage rate. C) additional hour of labor produces extra output that equals the real wage rate. D) additional hour of labor produces extra output that equals the nominal wage rate. E) firm can sell the extra output.
Data indicate that the economy's response to monetary policy became noticeably weaker and more stretched out during
A) 1961-75. B) 1976-90. C) 1991-2007. D) None of the above. The response has grown stronger and shorter.