Two alternative measures of the overall level of prices are
a. the inflation rate and the consumer price index.
b. the inflation rate and the GDP deflator.
c. the GDP deflator and the consumer price index.
d. the cost of living index and nominal GDP.
c
Economics
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The trough of a business cycle occurs when ________ hits its lowest point
A) inflation B) the money supply C) aggregate economic activity D) the unemployment rate
Economics
If oil prices fall at the same time that the federal government increases its purchases, in the short run
A) aggregate output and the price level will both increase. B) aggregate output will increase, but the price level will fall. C) aggregate output and the price level will both fall. D) aggregate output will increase, but the price level may either increase or decrease.
Economics