An unexpected increase in aggregate demand
A. causes the price level to fall.
B. the unemployment rate to rise.
C. causes the price level to rise.
D. both the unemployment rate and the price level to rise.
Answer: C
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If a nation restricts imports, it will:
A. benefit each individual citizen in that nation. B. decrease the total value of goods and services produced in that nation. C. increase the total value of goods and services produced in that nation. D. harm each individual citizen in that nation.
What three decisions do firms make simultaneously?
What will be an ideal response?
An autonomous expenditure is one that does not depend on:
A) government policy B) the automobile sector C) interest rates D) GDP
The implicit cost incurred by a firm to use its resources to produce its output is the firm's
A) total cost. B) explicit cost. C) opportunity cost. D) accounting cost.