In the long run, the price level adjusts
A) to achieve money market equilibrium.
B) so that the inflation rate equals the growth rate of real GDP.
C) so that the inflation rate equals zero.
D) so that the inflation rate is moderate.
E) so that the real interest rate equals the nominal interest rate.
A
Economics
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In recession years, ________ jobs are lost than created, and vacancies and job openings ________
A) more; increase B) more; decline C) fewer; decline D) fewer; increase
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The difference between the price the consumer is willing to pay for a good or service and what he would have to pay for that unit is called: a. the total gains from trading that unit. b. the gain in producer surplus
c. the gain in consumer surplus. d. the total surplus.
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