If the inflation rate is negative, the price level in an economy is
A) falling.
B) rising slowly.
C) constant.
D) rising rapidly.
A
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The following is not associated with bid-rigging
a. bid-riggers bidding their true value b. "knockout" auctions c. bid rotations d. amnesty to the first conspirator willing to testify against fellow conspirators
]Which of the following describes what would happen after a positive supply shock such as a decrease in world oil prices?
a. An upward shift of the aggregate supply curve as unit costs increase, followed by a gradual decrease in the wage as employment decreases, leading to a downward shift of the aggregate supply curve. b. A downward shift of the aggregate supply curve as unit costs decrease, followed by a gradual increase in the wage as employment increases, leading to an upward shift of the aggregate supply curve. c. An upward shift of the aggregate supply curve as unit costs increase, followed by a gradual decrease in the wage as employment decreases, leading to an upward shift of the aggregate supply curve. d. A downward shift of the aggregate supply curve as unit costs decrease, followed by a gradual decrease in the wage as employment decreases, leading to a downward shift of the aggregate supply curve. e. An upward shift of the aggregate demand curve.
A demand curve with constant slope over all quantity values can have a continuously changing price elasticity of demand.
Answer the following statement true (T) or false (F)
Monetary policy in the United States is principally controlled by
A. the President of the United States. B. the Federal Reserve. C. the U.S. Treasury Department. D. the U.S. Senate.