By making exchange ________, money allows for ________ and higher ________
A) harder; specialization; costs
B) easier; specialization; productivity
C) harder; generalization; productivity
D) easier; specialization; costs
Answer: B
Economics
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When a change in the price level causes a change in the purchasing power of currency, which then changes planned real expenditures at all income levels, it is called
A) the real-balance effect. B) the open-economy effect. C) the substitution effect. D) the interest rate effect.
Economics
Economist A. W. Phillips found a negative correlation between wage inflation and unemployment.
Answer the following statement true (T) or false (F)
Economics