Ireland's nominal GDP can increase when
a. only Irish prices increase
b. only Irish output increases
c. only Irish output and prices increase
d. only Irish output and prices decrease
e. any combination of Irish output and/or prices increases
E
Economics
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According to monetary theory, if the money supply is growing at a rate of 5 percent, real GDP is growing at a rate of 2 percent, and velocity is constant, what will the inflation rate be?
What will be an ideal response?
Economics
Demand-pull inflation is associated with:
A. decreasing total spending (demand). B. increasing total spending (demand). C. decreasing costs of production (supply). D. increasing costs of production (supply).
Economics