The automatic mechanism ________ the price level in the case of ________ and ________ the price level in the case of ________
A) lowers; recession; raises; expansion B) raises; expansion; raises; recession
C) raises; recession; lowers; expansion D) lowers; expansion; lowers; recession
A
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The federal government collects taxes on
A. real capital gains. B. nominal capital gains. C. real capital losses. D. nominal capital losses.
Of the following, the most likely example of price discrimination is when:
A. restaurants charge different prices for chicken and beef. B. hotels charge different rates for the same rooms when conventions are held. C. supermarkets charge different prices for oranges and apples. D. a firm sells different shoes for different prices.
What happened to government regulation in the aftermath of the oil shock of 1973?
What will be an ideal response?
The aggregate supply curve illustrates that the
A) higher the price level, the greater the quantity of real GDP supplied. B) higher the price level, the smaller the quantity of real GDP supplied. C) aggregate demand curve is not needed to determine the aggregate price level. D) price level does not affect the quantity of real GDP supplied. E) amount of potential GDP increases when the price level rises.