Refer to Table 19-16. Given the information above, what can we say has happened in the economy from 2015 to 2016?
A) The price level has remained constant.
B) The price level has fallen.
C) The price level has risen.
D) Not enough information is available to determine what has happened to prices.
C
You might also like to view...
Monopolistic competitive firms are productively inefficient because production occurs where
A. average total cost is not at its lowest. B. marginal cost is not at its lowest. C. marginal cost is less than price. D. price is greater than marginal revenue.
If the demand for a good rises by more than the supply of the good falls, then the good's equilibrium price will __________ and its equilibrium quantity will __________
A) rise; fall B) rise; rise C) fall; fall D) fall; rise
Suppose there are 200 million persons in the population, 120 million persons in the civilian labor force, and 90 million persons are employed. The number of persons unemployed is _______ million and the unemployment rate is ___________ percent
A) 30; 25 B) 30; 33 C) 30; 5 D) 80; 40
According to the textbook, NAFTA was expected to help which country exploit its comparative advantage in the production of goods made by unskilled labor?
A. Cuba B. Mexico C. Canada D. The USA