The level of Real GDP and the price level always have a direct relationship
Indicate whether the statement is true or false
False
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Which explains why supply curves slope upward to the right?
A) Sunk costs B) Decreasing average costs C) Increasing marginal costs D) Multiple per-unit costs
Over the past decade, the demand for goods produced in China has brought a sustained increase in demand for China's exports that has out-stripped the growth of supply. As a result, China has experienced a _______
A. period of stable prices and sustained economic growth B. rising price level and demand-pull inflation C. rising price level and cost-push inflation D. rising price level and a falling real wage rate
If 1,000 Mexican pesos could buy $1.00 U.S. in 2006 and $0.87 U.S. in 2010, it implies that _____
a. the dollar depreciated against the peso b. the peso appreciated against the dollar c. the dollar strengthened against the peso d. the peso strengthened against the dollar
If prices increase, the money demand curve shifts ______.
a. rightward b. leftward c. upward d. downward