Please give me an accurate answer! I\'m preparing for my econ exam and i need to

ID: 1181247 • Letter: P

Question

Please give me an accurate answer! I'm preparing for my econ exam and i need to know the answers for the questions below

1. Which of the following statements is true?

A. Money neutrality means nominal changes are irrelevant in the long run; only real changes matter.

B. The classical dichotomy refers to the fact that only real variables are important in the long run.

C. The wealth effect on the part of consumers explains why output is higher when the price level is lower.

D. A falling price level benefits lenders at the expense of borrowers.

E. All of the above are true.

2. What is the name of the price at which one currency exchanges for another currency?

A. foreign exchange rate

B. currency exchange rate

C. net export exchange rate

D. money exchange rate

E. value of the dollar

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