Evidence indicates that there's a strong relationship between money and inflation in:
A) both the short and long run
B) neither the short nor the long run
C) short run, but not the long run
D) long run, but not the short run
D
You might also like to view...
Secular deflation occurs when
A) both aggregate demand and aggregate supply are shifting left. B) there is no economic growth and aggregate demand falls. C) aggregate demand increases at the same time there is no economic growth. D) aggregate demand remains unchanged while economic growth increases long-run aggregate supply.
What is a market? Must a market have a single physical location?
What will be an ideal response?
Jill Borts believes that the price elasticity of demand for her economics textbook is relatively inelastic. She argues "I was told I had to purchase a book written by Hubbard and O'Brien that is required by my instructor
If I wanted to buy a mystery novel I would have many authors to choose from. Therefore, the demand for mystery novels is more elastic than the demand for my textbook." Is Jill correct? A) She is correct that the textbook has a more inelastic demand, but that is because most students pay for their textbooks with credit cards. Most people pay for novels and other books with debit cards. B) She is correct. C) She is confused. She should have concluded that the textbook has a more elastic demand than a novel. D) The demand for the textbook is more inelastic, but Jill's reasoning is incorrect. The reason the textbook has an inelastic demand is that it is more expensive than any novel.
When calculating GDP, exports are ________ and imports are ________.
A. added; added B. added; subtracted C. subtracted; subtracted D. subtracted; added