The main criticism of those who doubt the ability of the government to respond in a useful way to the business cycle is that the theory by which money and government expenditures change output is flawed

The U.S. dollar exchange rate describes the

a. the deficit/surplus situation in the balance of payments. b. the price of a foreign currency in terms of dollars. c. the deficit/surplus situation in the merchandise trade balance. d. future changes in foreign balance of payments. e. none of the above.

Use the above table. Based on the information in the table, jam is a(n)

A) normal good. B) necessary good. C) inferior good. D) negative good.