Inflation tends to:
A. Increase productivity
B. Decrease input prices
C. Increase the strength of the multiplier
D. Reduce the strength of the multiplier
D. Reduce the strength of the multiplier
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Firms organize production by using a mixture of two systems: (1 ) command systems and (2 ) incentive systems
Indicate whether the statement is true or false
Some critics of capitalism argue that
a. There is too much government intervention in the economy b. Involuntary trade generates no wealth c. If one person makes money, someone else must be losing it d. Voluntary trade ensures gains for both consumers and producers
Which of the following would lead to an upward movement along the aggregate demand curve?
a. An increase in government purchases b. An increase in the money supply c. An increase in the price level d. A decrease in the money supply e. An increase in taxes
Using a production possibilities curve, a technological advance that increases the amount of output for the same amount of inputs would be illustrated as a(n):
a. flattening of the curve.
b. movement from one point to another point along the curve.
c. outward shift of the curve.
d. movement from a point on the curve to a point inside the curve.