If the price of inputs rises and foreign income rises:
a. Price index rises, and the change in real GDP is uncertain.
b. Price index falls, and real GDP rises.
c. Price index falls, and real GDP falls.
d. Price index falls, and the change in real GDP is uncertain.
e. The change in price index is uncertain, and real GDP rises.
.A
Economics
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Welfare programs satisfy the criteria of the benefit principle
a. True b. False
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For a firm in a perfectly competitive industry
A) the demand curve is unitary elastic throughout. B) marginal revenue and product price are equal at every level of output. C) the price elasticity of demand is zero. D) more output can be sold only if the firm unilaterally lowers its product price.
Economics