Samuelson and Solow believed that the Phillips curve offered policymakers a menu of possible economic outcomes

How many British pounds would it cost to buy a pair of American designer jeans costing $45 if the exchange rate is 1.50 dollars per British pound?

A) 10 British pounds B) 20 British pounds C) 30 British pounds D) 35 British pounds E) 25 British pounds

Economic models are abstractions from reality

Indicate whether the statement is true or false