The real value of money ________ as the price level falls
A) decreases B) remains the same C) increases D) none of the above
C
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Business cycles are a persistent feature of the U.S. economy
a. True b. False Indicate whether the statement is true or false
Which would increase aggregate supply?
a. A decline in productivity b. An increase in business regulation c. A decrease in the capital stock d. Lower business taxes
Two friends, one an engineer and the other an accountant, decide to form a partnership. If the accountant takes care of the books and the engineer runs the factory, they are likely to enhance the economy's productivity through:
A) scarcity. B) specialization of labor. C) a shift in the production possibilities curve. D) a movement along the production possibilities curve.
A price floor represents
A. a maximum price that can be legally charged for a product or service. B. a lottery imposed upon producers by the government. C. a first come, first served mechanism for controlling prices. D. a minimum price that can be legally charged for a good or service.