Refer to the information provided in Figure 26.1 below to answer the question(s) that follow.
Figure 26.1Refer to Figure 26.1. Between the output levels of $1,000 billion and $1,500 billion, the relationship between the price level and output is
A. positive.
B. constant.
C. negative.
D. indeterminate.
Answer: A
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Forecasts are
A) generally incorrect. B) predictions about the future. C) explanations of past occurrences. D) limited to short time periods.
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A. Immunizations and basic health care. B. High levels of military spending. C. Educational opportunities. D. Access to water and sanitation.
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A. workers will demand wage increases to offset the effects of deflation. B. it is generally followed by periods of hyperinflation. C. the government is powerless to stop it. D. falling prices lead consumers to delay purchases and further reduce spending.