It is generally easier for a firm to get _______________ than _______________; therefore, many more of the former are in place than the latter.

If persistent inflation was due to declines in long-run aggregate supply, what pattern would be observed?

A) Only prices of services would increase; prices of goods would remain constant. B) Increases in the price level would occur simultaneously with increases in real GDP. C) Increases in the price level would occur simultaneously with decreases in real GDP. D) Only prices of goods would increase; prices of services would remain constant.

A debtor nation means a nation

A) whose imports exceeds its exports. B) whose current account is less than its capital account. C) who—through its history—has invested less in the rest of the world than other countries have invested in it. D) whose current lending to the rest of the world exceeds its borrowing from the rest of the world.