In the short run, the price level
a. will increase if unit costs increase.
b. will increase if average markup decreases.
c. will increase if unit costs decrease.
d. is held constant by government decree.
e. will decrease if there is a negative supply shock.
A
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If your real income in base year prices is $50,000, then if the CPI is 170, what is your nominal income?
A) $85,000.00 B) $29,411.76 C) $70,000.00 D) $50,000.00 E) $71,428.57
Economic growth in China ________
A) would have been impossible in the absence of its impressive record of financial development B) occurred despite limited domestic financial development C) can continue indefinitely without additional financial development D) has occurred despite a relatively low domestic saving rate
The change in total revenues resulting from a change in output of one unit is
A) average revenue. B) marginal revenue. C) quantity revenue. D) price revenue.
Bond prices in the marketplace will fall when
A. interest rates fall. B. the company is losing money. C. interest rates rise. D. the company is making money.