When we say the cost of living has gone down, we mean that, looking broadly over a range of goods and services:
A. our income has increased to match the cost of those goods.
B. a dollar buys less today than it used to buy.
C. a dollar buys the same today as it used to buy.
D. a dollar buys more today than it used to buy.
Answer: D
Economics
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If aggregate demand grows only slightly faster than potential GDP, then the economy will ________
A) experience economic growth with high inflation B) experience recession C) experience economic growth with low inflation D) be at a business-cycle peak
Economics
The profit-maximizing firm will be earning a total revenue of about
A. $0.
B. $500.
C. $720.
D. $920.
Economics