The key idea of the aggregate expenditure model is that in any particular year, the level of ________ is determined mainly by the level of aggregate expenditure

One explanation for the fall in the value of the U.S. dollar since 2001is

a. the mix of an tight fiscal/tight monetary policy over the period. b. the relative weakness of the U.S. economy over the period. c. a higher degree of accommodation of supply shocks in the United States relative to our trading partners. d. the disintegration of the Bretton Woods system during these years.

An increase in congestion costs associated with a public good provided through clubs will _____

a. lead to new clubs being formed b. lead to a reduction in the optimal size of the club c. be unrelated to congestion costs d. lead to fewer clubs being formed