In a self-regulating economy, a recessionary gap will be eliminated by falling wages which will shift the SRAS curve to the right

Under the Bretton Woods system, if West Germany needed to change its parity rate with the U.S. dollar so that a person might offer fewer Deutsch marks to buy on e dollar, then they would be

A) revaluing their currency. B) devaluing their currency. C) appreciating their currency. D) depreciating their currency.

Empirical evidence on the U.S. economy suggests that household spending and income have an inverse relationship

a. True b. False Indicate whether the statement is true or false