If prices increase only in the United States, then:
A. U.S. goods become relatively more expensive than goods from other countries.
B. U.S. goods become relatively less expensive than goods from other countries.
C. the prices of foreign goods must rise.
D. the income level of people in the US must rise.
A. U.S. goods become relatively more expensive than goods from other countries.
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The aggregate supply curve is the total quantity of
A) raw materials offered for sale at different inflation rates. B) final goods and services offered for sale at the current inflation rate. C) final goods and services offered for sale at different inflation rates. D) intermediate and final goods and service offered for sale at different inflation rates.
Any reserves held by a bank above the amount of minimum legal reserves are called
a. total reserves. b. required reserves. c. fiat money. d. excess reserves.