1D. The U.S. Bureau of Economic Analysis (BEA) issued the following news release on 3/26/2021:

Personal income decreased $1,516.6 billion, or 7.1 percent at a monthly rate, while consumer spending decreased $149.0 billion, or 1.0 percent, in February (2021).

How is "Personal Income" calculated? What is the difference between "Personal Income" and "Disposable Income"?

1E. Which component of GDP includes inventories? ____________.

As inventories diminish due to aggregate demand being greater than output (GDP), firms will want to ______ _______, which in turn will impact ____________ and incomes

F 1 The exchange rate is determined by ________.

F 2 It is true that a stronger US dollar implies that the US can buy foreign goods more cheaply, so imports . Foreigners find US goods more expensive and demand for exports . The question is: What is the impact of a stronger US dollar on aggregate demand (AD)?