In the long run, an increase in aggregate demand:
a. increases the price level and real output, but the effect on the price level is larger.
b. increases the price level and real output, but the effect on output is larger

The Gallatin Plan (1808) to provide internal land and water transport in the eastern part of the country was a plan that

(a) called for the federal government to finance and build the transport system. (b) called for the eastern states to join together to finance and build the system. (c) called for private financing and building with some federal government assistance in coordinating and planning the transport system. (d) relied primarily on city and county governments to provide the bulk of the financing and building of the transport system.

Which of the following best defines foreign exchange?

a. a trade between two countries b. the market where exporting and importing activities take place c. the price of a currency relative to another currency d. the currency of another country used for trading e. the dollars that the United States uses to buy goods from other countries