If long-run economic growth is not accompanied by a change in aggregate demand, the result will be
A) persistent inflation.
B) secular deflation.
C) devaluation of the dollar.
D) appreciation of the dollar.
B
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Which approach to measuring money focuses on the value of currency, transaction deposits, and travelers checks?
A) near moneys B) the liquidity approach C) M2 D) the transactions approach
What is gained when people engage in specialization and trade?
A) Specialization and trade allow people to consume outside their individual production possibilities frontiers. B) Specialization and trade allow people to consume at a point on their production possibilities frontiers. C) Specialization and trade allow people to produce outside their individual production possibilities frontiers. D) Specialization and trade allow people to consume inside their production possibilities frontiers. E) There are no gains from specialization and trade.