As the price level rises, the value of money
a. increases, so people must hold less money to purchase goods and services.
b. increases, so people must hold more money to purchase goods and services.
c. decreases, so people must hold more money to purchase goods and services.
d. decreases, so people must hold less money to purchase goods and services.
c
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When resources are destroyed the production possibilities curve inward to the left
Indicate whether the statement is true or false
Government rules can increase transparency and lower market efficiency
Indicate whether the statement is true or false
A tariff is a tax on ________ goods that is designed to ________
a. exported; protect domestic industries b. exported; hurt foreign industries c. imported; make domestic consumers pay more d. imported; protect domestic industries e. domestic; discourage imports
Which of the following are leakages from the circular flow of income?
a. Savings, taxes, and imports b. Investment, government purchases, and exports c. Investment, taxes and bonds d. Imports, wages and taxes