The level of real GDP is a good measure of economic prosperity, and the growth of real GDP is a good measure of __________

If a country's currency is determined only by the demand and supply for that country's currency, the country is said to have a

A) fixed exchange rate. B) gold standard. C) managed float. D) floating exchange rate.

Generally, a firm is more willing and able to increase quantity supplied in response to a price change when

a. the relevant time period is short rather than long. b. the relevant time period is long rather than short. c. supply is inelastic. d. the firm is experiencing capacity problems.