The logic of the exchange-rate effect begins with a change in the price level changing the interest rate

The American manufacturing system began to emerge in the years prior to the Civil War. Which of the following was not an important aspect of the system?

(a) Extensive or increased use of craftsmen (b) Mass production of goods in factories (c) The production of standardized goods (d) Extensive use of machinery and equipment

If one person's use of a good diminishes another person's enjoyment of it, the good is

a. rival in consumption. b. excludable. c. normal. d. exhaustible.