A weaker dollar:
A. raises inflation and expands the economy.
B. reduces inflation and expands the economy.
C. reduces inflation and contracts the economy.
D. raises inflation and contracts the economy.
Answer: A
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Barriers to entering an industry ________.
A. encourage allocative efficiency B. are characteristic of a pure monopoly C. encourage productive efficiency D. apply only to pure monopolies
Over time in a growing economy, the long run aggregate supply curve will
A) shift inward to the left. B) shift outward to the right. C) become increasingly stee
According to the law of supply
A) people buy more of a good when the price increases. B) people buy less of a good when the price decreases. C) producers provide more of a good when the price decreases. D) producers provide less of a good when the price decreases.
Which of the following will occur if the price level is below the equilibrium level?
A. Consumers will bid the price level up by competing for goods B. The quantity demanded will increase as the price level increases C. The quantity supplied will decrease as the price level increases D. Producers will bid the price level down by competing for buyers