Suppose that nominal GDP in year 1 is 200 and nominal GDP in year 2 is 242. Assume that inflation is ten percent per year. How fast did the economy grow between these two years?

All of the following groups benefited from immigration to the U.S. in the late 19th and early 20th century except

a. steamship companies b. mining companies c. manufacturing companies d. railroads e. All of the above benefited from immigration.

As the price level falls,

a. the exchange rate falls, so net exports fall. b. the exchange rate falls, so net exports rise. c. the exchange rate rises, so net exports fall. d. the exchange rate rises, so net exports rise.