Based on this graph, which of the following are the key results of an expansionary monetary policy?
a. Price level increases; real gross domestic product increases; aggregate demand increases.
b. Price level decreases; real gross domestic product increases; aggregate demand increases.
c. Price level decreases; real gross domestic product decreases; aggregate demand increases.
d. Price level increases; real gross domestic product decreases; aggregate demand decreases.
a. Price level increases; real gross domestic product increases; aggregate demand increases.
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The concept of scarcity indicates that:
A) most goods have no alternative uses. B) almost all goods have alternative uses. C) most decisions can be made without sacrificing alternatives. D) certain societies are able to overcome the constraints imposed by alternative uses of resources.
The United States has been willing to trade-off greater efficiency for greater wage equality.
Answer the following statement true (T) or false (F)