An increase in the inflation rate results in ________ in the quantity of real GDP demanded because a higher price level ________
A) an increase; increases consumption and investment
B) a decrease; increases consumption and investment
C) a decrease; reduces consumption and investment
D) an increase; reduces consumption and investment
C
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Which of the following transactions is a debit in the US current account?
A) Export of merchandise B) Export of services C) Gifts to foreigners D) Foreign bond purchases
Microeconomics can be used by governments to predict the impacts of a policy and suggest solutions to problems
What will be an ideal response?
The President first began submitting a budget to Congress in 1931, during the Great Depression
a. True b. False
A common unscrupulous financial practice of railroad promoters (and the basis of the Credit Mobilier scandal) involved
a. federal tax evasion. b. "insider" ownership of railroad construction companies. c. sales of worthless railroad bonds to unwitting buyers. d. insurance fraud.