Refer to the information provided in Figure 23.4 below to answer the question(s) that follow. Figure 23.4Refer to Figure 23.4. Suppose the consumption function for C1 = 20 + 0.5Y, the consumption function that best fits C3 is

As the U.S. exchange rate ________, the price of U.S. imports increases and the quantity supplied of dollars ________

A) falls; does not change B) falls; decreases C) rises; increases D) rises; decreases E) falls; increases

Refer to Table 8-7. Suppose that a simple economy produces only four goods and services: iPods, t-shirts, bottled water, and oranges. Calculate nominal GDP for this simple economy

What will be an ideal response?