An increase in the level of prices of goods and services will do what to the long-run aggregate supply curve?
A) not shift the curve at all
B) depends upon the long-run aggregate demand curve
C) shift it to the right
D) shift it to the left
A
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According to Keynes, the adoption of an expansionary fiscal policy will cause: a. both equilibrium price level and equilibrium output to rise
b. equilibrium price level to rise and equilibrium output to fall. c. equilibrium price level to fall and equilibrium output to rise. d. both equilibrium price level and equilibrium output to fall. e. equilibrium price level to remain the same and equilibrium output to fall.
Over the period from 1870 to 2010, the growth of real GDP per capita tended to be more rapid between ________, particularly for ________.
A. 1870-1950; the United States B. 1950-2010; Japan C. 1870-1950; Canada D. 1870-1950; Japan
The situation in which the money a person receives does not increase even though prices rise.
a. inflation b. economic system c. fixed income d. deflation
In January 2001, the euro/dollar exchange rate was 1.10, and in January 2002, the euro/dollar exchange rate was 1.120 What happened to the exchange rate during this period?
A) Euro appreciated against the dollar. B) Euro depreciated against the dollar. C) Dollar appreciated against the euro. D) Both B and C.