If the economy is at potential output, the price level can continue to increase
a. True
b. False
A
Economics
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In general, as a consumer acquires more and more of a good, the marginal utility remains constant.
Answer the following statement true (T) or false (F)
Economics
Which of the following would be most likely to induce Congress and the president to conduct contractionary fiscal policy? A significant
A) increase in labor productivity. B) decrease in oil prices. C) increase in inflation. D) decrease in real GDP.
Economics
If labor contracts prevent wage flexibility, the aggregate supply curve will be
A) vertical. B) horizontal. C) negatively sloped. D) positively sloped.
Economics
Any point on the lowest indifference curve is preferable to a point on a higher indifference curve
a. True b. False Indicate whether the statement is true or false
Economics