Multiple Choice
A rise in the overall price level means that:
A) a given number of dollars will buy fewer real goods and services.
B) output has decreased.
C) the cost of living has gone down.
D) None of these are true.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The long-run aggregate supply curve represents:<br>A) potential
Q2: In the long run, aggregate supply:<br>A) is
Q3: Widespread adoption of mobile phones over the
Q4: Consumption spending is _ the overall price
Q6: Sticky wages occur because:<br>A) the government intervenes
Q7: Suppose the BLS announces that price levels
Q8: Government spending tends to:<br>A) increase when the
Q9: The long-run aggregate supply curve would shift
Q10: Higher interest rates:<br>A) make it more expensive
Q11: Which of the following would likely cause