As real U.S. GDP increases, U.S. income increases and so
A) U.S. imports increase.
B) U.S. exports decrease.
C) U.S. imports decrease.
D) investment increases.
E) U.S. exports increase.
A
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In goods markets ________ and in factor markets ________
A) households sell to firms; firms sell to households B) firms sell to households; households sell to firms C) households sell to firms; households sell to firms D) firms sell to households; firms sell to households
In an economy in which real output grows at an average rate of 3 percent per year, a 7 percent average rate of growth in the money supply would result in a(n): a. inflation rate of 4 percent, if velocity of money in circulation is constant. b. inflation rate of -4 percent, if velocity of money in circulation is constant. c. $7 increase in the price level each year
d. $7 decrease in the price level each year. e. increase in the velocity of money in circulation.