Referring to Figure 19.1, U.S. goods will become more expensive in Mexico if the exchange rate goes from ________ to ________ pesos to the dollar

GDP is used by economists to measure

A) the market value of final goods and services produced over a particular time period. B) the overall well-being of society enjoyed over a particular time period. C) the overall efficiency of the macro economy over a particular time period. D) the economic strength of the nation.

Leakages in the circular flow model are

A) caused by people not acting rational. B) possible when unemployment exists. C) reflected in the vertical long-run aggregate supply curve. D) caused by people saving instead of spending.