A rise in the price level
A) raises the buying power of money.
B) decreases the prices of exports.
C) lowers the buying power of money.
D) increases aggregate demand.
E) makes the aggregate demand curve steeper.
C
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In a study published in 1963, Milton Friedman and Anna Schwartz found that in every business cycle they studied over nearly a hundred-year period
A) the growth rate of the money supply decreased before output decreased. B) interest rates decreased before output decreased. C) the growth rate of federal government spending decreased before output decreased. D) the growth rate of state and local government spending decreased before output decreased.
The Fed pledged to continue QE3 until:
A) inflation got out of control B) real GDP and employment returned to more normal levels C) the financial crisis was over D) it was time to begin QE4