When the price level changes from PL2 to PL1, what happens to the quantity of real GDP that suppliers are willing and able to supply?
a. It increases from RGDP2 to RGDP1.
b. It increases from RGDP1 to RGDP2.
c. It decreases from RGDP1 to RGDP2.
d. It decreases from RGDP2 to RGDP1.
d. It decreases from RGDP2 to RGDP1.
You might also like to view...
An example of a consumption tax is
A) an income tax. B) transfer payments. C) the Social Security tax. D) a sales tax.
The official settlements account of a country measures
A) the receipts from goods and services bought and sold and transfers to and from foreigners. B) borrowing and lending between the country's residents and foreigners. C) the net increase or decrease in the country's official reserves. D) net transfer payments between the country's citizens and foreigners.
In stage III of the demographic transition,
(a) the birth rate and the death rate are relatively low. (b) the birth rate and the death rate are relatively high. (c) the birth rate is relatively high and the death rate is relatively low. (d) the birth rate is relatively low and the death rate is relatively high.
Refer to the table above. If you are told that Country B is very much richer than Country A, then the correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.