When the real exchange rate decreases in the United States, then there is a(n) in U.S. demand for U.S. goods and a(n) in U.S. demand for Mexican goods.

Refer to the scenario above. If each family pays 12% of its income as tax every year, the local government follows a(n) ________ tax system

A) cardinal B) ordinal C) progressive D) proportional

Which of the following is TRUE of the Federal Reserve System?

a) It is controlled by the executive branch of the federal government. b) It is subject to oversight from Congress. c) It is not the central bank of the United States. d) It was established as part of the U.S. Constitution.