If your income is fixed and the economy experiences inflation, your ability to purchase goods and services rises.

China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century

Indicate whether the statement is true or false

If the utilization rates of capital and labor are procyclical, then

A. prices will be countercyclical. B. output will rise in recessions and decline in expansions. C. measured productivity will be constant. D. the Solow residual will be procyclical.