Most entrepreneurs finance their purchases of real capital using their past saving

The gap in GDP between the United States and Europe can be explained by the fact that

A) income taxes are higher in the United States. B) prices are higher in the United States. C) equilibrium employment is higher in Europe. D) the Okun Gap is larger in the United States. E) U.S. labor is more productive than European labor.

An exchange rate is the price of one country's currency in terms of another country's currency

Indicate whether the statement is true or false