Suppose we observe the price level increasing and real GDP decreasing. An explanation for this is that
A) the dollar weakened and the effect on aggregate supply was less than the effect on aggregate demand.
B) the dollar weakened and the effect on aggregate supply was greater than the effect on aggregate demand.
C) the dollar strengthened and the effect on aggregate supply was less than the effect on aggregate demand.
D) the dollar strengthened and the effect on aggregate supply was greater than the effect on aggregate demand.
B
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If real GDP increases by 6 percent and at the same time the population increases by 2 percent, then real GDP per person grows by
A) 3 percent. B) 6 percent. C) 8 percent. D) 4 percent. E) 2 percent.
A(n) ________ is literally a go-between, who tries to speed up the process of negotiations, but does not have the power to impose a settlement.
A. arbitrator B. mediator C. None of the choices are correct.