According to Figure 7.1, which of the following statements was definitely true about Country B?
A. The average price in general increased over the time period 1970 to 1995.
B. The price level was about the same in 1970 and 1995.
C. Relative prices were changing.
D. Real incomes were increasing.
Answer: A
Economics
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When the price level increases there is ________ movement along the aggregate demand curve because the buying power of money ________
A) a downward; increases B) an upward; increases C) an upward; decreases D) no; does not change E) a downward; decreases
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If you sell your textbook to your friend this year, does the sale count in this year's GDP?
What will be an ideal response?
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