Inflation will
A) decrease the quantity of real GDP demanded. B) decrease aggregate demand.
C) increase the quantity of real GDP demanded. D) increase aggregate demand.
A
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In 2011, apples cost $1.49 a pound. Suppose the CPI was 120 in 2011 and 140 in 2012. If there is no change in the real price of an apple in 2012, what is the price of a pound of apples in 2012?
A) $2.74 B) $1.69 C) $1.66 D) $1.74 E) $1.28
If demand rises and supply rises, equilibrium price will _____ and equilibrium quantity will _____.
Fill in the blank(s) with the appropriate word(s).
If total costs are $50,000 when 1000 units are produced, and total costs are $50,100 when 1001 units are produced, we can conclude that
A. average variable costs are $100. B. marginal costs are $100. C. average total costs are $100. D. average fixed costs are $100.
If the price of tanning salon sessions rises, then there will be a(n)
A. decrease in the demand for sessions. B. decrease in the quantity of sessions demanded. C. increase in the demand for sessions. D. increase in the quantity of sessions demanded.