The demand curve for Japanese yen is downward sloping because as the price of a yen declines, such as dollars per yen, people buy fewer Japanese goods

In the case of an upward-sloping aggregate supply curve, the change in real GDP brought about by a change in government spending will be less than that predicted by the simple government purchases multiplier

Indicate whether the statement is true or false

The economic profit earned by a firm is calculated by subtracting explicit costs from total revenue

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