Macroeconomics studies the following topics:
A) national output, the inflation rate, and the trade deficit.
B) the price of Cisco stock and wage differences.
C) differences in market structure.
D) all of the above.
A
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The effect of an exchange rate system on the price level between countries is that:
A) exchange rate volatility causes the prices to converge between countries. B) a fixed exchange rate results in price convergence. C) a fixed exchange rate results in price divergence. D) all member nations of the ERM saw a divergence in prices.
When the government runs a large deficit,
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward. E) taxes must rise.