When the price level goes up, the purchasing power of the dollar
A) varies directly with the value of the euro. B) remains constant.
C) also increases. D) falls.
D
Economics
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All else equal, if oil prices decrease, annual oil consumption will ________ and the years it will take to deplete the stock of oil will most likely ________
A) decrease; increase. B) decrease; decrease C) increase; increase D) increase; decrease
Economics
In Japan in 2000 the price level fell by 5 percent and the money wage rate did not change. As a result, there was a
A) movement down along Japan's short-run aggregate demand curve. B) movement down along Japan's short-run aggregate supply curve. C) rightward shift in Japan's short-run aggregate supply curve. D) movement down along Japan's long-run aggregate supply curve.
Economics