If the price level in Great Britain increases from 102 to 105 (holding all else constant), real wealth ________ and there is a movement ________ along Great Britain's aggregate demand curve
A) decreases; upward
B) increases; upward
C) decreases; downward
D) increases; downward
A
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Along the supply curve of lifeguards at local public pools,
a. the wage paid to lifeguards is held constant b. the number of lifeguards is held constant c. the wage paid to lifeguards at private clubs is held constant d. the demand for lifeguards is assumed constant e. the admission price to these public pools rises as the wage rate for lifeguards increases
Taiwan exports tools to the United States. Consumers in Taiwan will probably pay a(n) ________ price for tools with free trade than they would with a closed economy.
A. somewhat lower B. lower C. higher D. more fair
Which of the following would be expected to increase the demand for money in the U.S.?
A. Political instability decreases dramatically in developing nations. B. The economy enters a recession. C. Financial investors become concerned about increasing riskiness of stocks. D. On-line banking allows customers to transfer funds between checking and stock mutual funds 24 hours a day.
Suppose two countries have identical growth rates of real GDP and the same initial value of per capita real GDP. We know, then, that
A. economic well being is the same in both countries. B. living standards may differ in the two countries because we don't know how income is distributed in the countries. C. living standards in the two countries are probably identical, or very close to each other. D. life expectancies are the same in both countries.