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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 180 times)

ec501234

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on: Jun 30, 2018
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

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Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

d


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