Money prices are:
A. always the best way to solve economic problems.
B. essential to a coordinating mechanism.
C. unfair ways of coordinating individual actions.
D. not essential to a coordinating mechanism.
Answer: D
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Longitudinal data on income inequality in the United States indicates that: a. children of poor families stay poor, but children of rich families do not always stay rich
b. children of poor families often escape poverty, but rich families invariably retain their wealth over time. c. there is substantial movement among income groupings in the United States. d. the rich are getting richer and the poor are getting poorer.
As the U.S. dollar appreciates against foreign currencies, the U.S. ____________ curve shifts _____________ resulting in a(n) _________________ in the U.S. price level and a(n) _________________ in Real GDP in the United States
A) AD; leftward; decrease; decrease B) AD; rightward; increase; increase C) SRAS; rightward; decrease; increase D) SRAS; leftward; increase; decrease