Which of the following is an effect of an increase in the price level in an economy?
What will be an ideal response?
The equilibrium real gross domestic product will decrease.
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Economic growth is measured by the: a. advancement in the quality of a nation's technology
b. rate of business investment and capital formation. c. annual percentage change in per capita real output of goods and services. d. marginal change in nominal output divided by total output from the previous year.
If the supply of and demand for a product decrease at the same time, then equilibrium
A) quantity and equilibrium price must both decline. B) quantity must decline, but equilibrium price may either rise, fall, or remain unchanged. C) price must fall, but equilibrium quantity may either rise, fall, or remain unchanged. D) quantity must fall and equilibrium price must rise.
A currency appreciation is a(n):
A. reduction in the official value of a currency in a fixed-exchange-rate system. B. increase in the value of a currency relative to other currencies. C. decrease in the value of a currency relative to other currencies. D. increase in the official value of a currency in a fixed-exchange-rate system.
Checking deposit are ________ the M1 measure of money and ________ the M2 measure of money.
A. excluded from; excluded from B. excluded from; included in C. included in; included in D. included in; excluded from