Author Question: If the average price level in 1991 was 1.20 relative to the base year in 1986, then a dollar in 1991 ... (Read 185 times)

ec501234

  • Hero Member
  • *****
  • Posts: 573
If the average price level in 1991 was 1.20 relative to the base year in 1986, then a dollar in 1991 bought 20 percent more goods and services than a dollar in 1986.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following statements most likely lies within the realm of microeconomics?
 a. Unemployment rises during a recession and falls during an expansion.
 b. A rapid acceleration of the supply of money may create inflation.
 c. An increase in government spending will increase the aggregate demand for goods and services in the economy.
  d. An increase in labor costs will increase the additional cost of producing another airplane.



triiciiaa

  • Sr. Member
  • ****
  • Posts: 349
Answer to Question 1

False

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

For a complete list of videos, visit our video library