Question: Part 11: True! False l. A permanent supply shock affects output and ination both in the short and long-run. 2. Okun's law represents a positive

Part 11: True! False l. A permanent supply shock affects output

Part 11: True! False l. A permanent supply shock affects output and ination both in the short and long-run. 2. Okun's law represents a positive relationship between unemployment and output. 3. Currency depreciation leads to a shift in demand, both foreign and domestic, toward domestic goods. 4. If the US real exchange rate against the Japanese rate is above 1, then it is cheaper to buy the US products

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