Downward shifts are
a. increases in both demand and supply
b. decreases in both demand and supply.
c. increases in demand and decreases in supply.
d. increases in supply and decreases in demand.
d
Economics
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Which of the following is the best definition of money?
a. Anything generally accepted as payment for goods or repayment of debt b. Anything that can be converted to a liquid asset c. A national currency that is backed by gold or other precious metals d. Paper or coin currency that is produced by the Federal Reserve
Economics
An increase in the overall level of prices in an economy is called
A. Growth B. Expansion C. Inflation D. Nominal GDP growth
Economics