Which of the following statements is correct?
A. If purchasing the same goods today as one year ago requires less money, the money supply likely increased.
B. If you can buy the same goods this year as you bought last year with less money there must have been inflation.
C. If purchasing the same goods today that were purchased one year ago requires more money, there must have been deflation.
D. If purchasing the same goods today as one year ago requires less money, the money supply likely decreased.
Answer: D
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When the price of a hot dog rises 10 percent, your expenditure on hot dogs increases. Hence, it is certain that
A) hot dogs are a normal good for you. B) hot dogs are an inferior good for you. C) your demand for hot dogs is elastic. D) your demand for hot dogs is inelastic.
All economic questions arise from the fact that resources are unlimited
Indicate whether the statement is true or false
The Millennium Poverty Goal is the United Nations' goal of reducing the global rate of extreme poverty to ________ percent by 2015.
A. 0 B. 5 C. 15 D. 10
If the dollar depreciates, it will cause ______.
a. an increase in exports and a decrease in imports b. a decrease in exports and an increase in imports c. a decrease in both imports and exports d. an increase in both imports and exports