The domestic currency price of a representative foreign ...

[jilianpiloj]

The domestic currency price of a representative foreign expenditure basket is
 
  A) P, the domestic price level.
  B) E, the nominal exchange rate.
  C) P times E, the domestic price level times the domestic price level.
  D) P , the foreign price level.
  E) P times E, the foreign price level times the nominal exchange rate.

Question 2

What is the national income identity for an open economy?
 
  What will be an ideal response?

[missalyssa26]

Answer to Question 1

E

Answer to Question 2

Y = C + I + G + EX - IM

[jilianpiloj]

YES! Correct, THANKS for helping me on my review

[tuate]

Thanks for the timely response, appreciate it