Diseconomies of scale cannot be due only to the sheer size of a firm?s operation.
Answer the following statement true (T) or false (F)
False
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How is the velocity of circulation calculated?
What will be an ideal response?
All of the following present significant problems with measuring real GDP and the price level except
A) changes in absolute price levels. B) changes in relative price levels. C) changes in the quality of goods over time. D) the introduction of new goods.
Whenever prices are rising, the inflation rate is rising
a. True b. False
An appreciation of the British pound relative to the euro will cause England's:
a. Aggregate supply and aggregate demand to rise, which causes prices to rise and real GDP to fall. b. Aggregate supply to rise and aggregate demand to fall, which causes prices to rise and real GDP to fall. c. Aggregate supply to rise and aggregate demand to fall, which causes prices to fall and real GDP to change by an uncertain amount. d. Aggregate supply and aggregate demand to fall, which causes prices to rise and real GDP to fall.