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
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.
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
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.