If a nation's currency depreciates, this will tend to
a. shift a nation's balance of trade toward a deficit.
b. cause a deficit in the government's budget (expenditures - revenues).
c. make foreign goods more expensive for the nation's citizens.
d. make foreign goods cheaper for the nation's citizens.
C
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Which of the following was true of the United States before 1970? a. The government was not responsible for promoting employment, output, and purchasing power. b. Most macroeconomic instability was caused by changes in international oil prices
c. Most macroeconomic instability was caused by shifts of aggregate demand. d. Most macroeconomic instability was caused by the depreciation of the dollar. e. The government was responsible for using monetary policy to correct a depression.
A horizontal demand curve is perfectly elastic because a change in price will not induce a change in quantity demanded
a. True b. False Indicate whether the statement is true or false