What pattern would you observe in an economy in which aggregate demand is increasing but in which long-run aggregate supply remained the same?
A) secular deflation
B) inflation accompanied by no change in real GDP
C) inflation accompanied by declines in real GDP
D) a decline in consumption spending
Answer: B) inflation accompanied by no change in real GDP
Economics
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Utility is a measure of a person's level of satisfaction or happiness from the consumption of a particular good
a. True b. False Indicate whether the statement is true or false
Economics
Suppose the growth rate of the firm's profit is 7 percent, the interest rate is 10 percent, and the current profits of the firm are $120 million. What is the value of the firm?
A. $44 million B. $6,800 million C. $4,280 million D. $4,400 million
Economics