When the dollar depreciates, the prices of imported inputs rise and the U.S. aggregate supply curve, therefore, shifts inward, pushing up the prices of American-made goods and services.
Answer the following statement true (T) or false (F)
True
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In the circular flow model, the factors of production flow in the
A) opposite direction as does the goods market. B) opposite direction as does the government. C) same direction as do the rents, wages, interest, and profits. D) opposite direction as do the rents, wages, interest, and profits. E) same direction as does the goods market.
If MU = MC = P, an economist can judge with certainty that the distribution of output is
a. fair. b. equal. c. unbiased. d. efficient.
Which of the following would not be considered a characteristic of money?
A. It is a means of payment. B. It is a unit of account. C. It must have intrinsic value. D. It is a store of value.
Suppose that Alpha's real output rose from $400 billion in year 1 to $428 billion in year 2. Its growth rate for this period was:
A. 14 percent. B. 12 percent. C. 9 percent. D. 7 percent.