In the long run, total spending affects ________, and output is determined by ________.
A. inputs and productivity; total spending
B. prices; meeting demand at preset prices
C. inputs and productivity; prices
D. prices; inputs and productivity
Answer: D
You might also like to view...
When a country's currency is devalued
A) output decreases. B) output increases and the money supply decreases. C) the money supply decreases. D) output decreases and the money supply increases. E) both the output and the money supply increases.
In practice, the three measurements of inflation, the CPI, PPI, and GDP deflator:
A. all closely track each other. B. are all positively correlated. C. all measure inflation, but focus on different parts of the economy. D. All of these statements are true.
Which of the following is the correct way to show the effects of a newly imposed import quota?
a. shift the demand for loanable funds left, the supply of dollars in the market for foreign- currency exchange left, and the demand for dollars in the market for foreign-currency exchange right b. shift the demand for loanable funds left, the supply of dollars in the market for foreign- currency exchange right, and the demand for dollars in the market for foreign-currency exchange left c. shift the demand for dollars in the market for foreign-currency exchange to the right d. shift the supply of dollars in the market for foreign-currency exchange to the left
Buyers in the market for used guitars are getting more pessimistic about the possibility of getting a good guitar. This will cause the price of used guitars to ________ and the percentage of good used guitars to ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease