Exchange rates in what is termed the "medium run"
a. will be altered by an economic upswing because consumers buy more goods including imports when disposable income goes up.
b. will be unaffected by economic changes in personal income or consumption spending.
c. will appreciate for a country having an economic boom when others are not.
d. All of the above are correct.
a
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The average total cost curve
a. is downward sloping at all levels of output b. is downward sloping when marginal costs are decreasing and upward sloping when marginal costs are increasing c. is upward sloping when marginal costs are decreasing and downward sloping when marginal costs are increasing d. does not vary with output
Both the Bush and Obama administrations used tax cuts as a remedy to the housing “bubble.”
Answer the following statement true (T) or false (F)