Increases in the overall price level:
A. reduce people's real wealth.
B. mean that a given number of dollars can buy as much in terms of real goods and services as before.
C. tends to cause people to increase their consumption.
D. result in an increase people's dollar-denominated wealth.
Answer: A
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The U.S. economy has become a less open economy over the past 50 years.
Answer the following statement true (T) or false (F)
Net capital outflow (NCO) is:
A. capital inflow ? capital outflow. B. capital outflow ? capital inflow. C. foreign dollars invested domestically. D. domestic dollars invested internationally.
"Equality of opportunities is more important than equality of incomes.". This statement would be most likely attributed to which political philosophy?
a. utilitarianism b. liberalism c. libertarianism d. welfarism
Refer to the accompanying figure. The equilibrium price in this market is ________ and the equilibrium quantity is ________.
A. $25; 25 B. $30; 25 C. $25; 30 D. $30; 30