This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Critically evaluate the statement Honolulu is an expensive place to live. Therefore the inflation ... (Read 112 times)

urbanoutfitters

  • Hero Member
  • *****
  • Posts: 530
on: Jun 30, 2018
Critically evaluate the statement Honolulu is an expensive place to live. Therefore the inflation rate must be high in Honolulu.
 
  What will be an ideal response?

Question 2

If there is a rise in the price level, there is a(n) ________ movement along the AS curve because there is ________ in the quantity of real GDP supplied.
 
  A) upward; a decrease
  B) downward; an increase
  C) upward; no change
  D) upward; an increase
  E) downward; a decrease


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ttt030911

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

The statement confuses the price level with the inflation rate. Inflation is a flow variableit measures changes in prices from year to year, while the price level is a stock variable. The statement observes the price level, not the inflation rate.

Answer to Question 2

D


urbanoutfitters

  • Member
  • Posts: 530
Reply 2 on: Jun 30, 2018
Wow, this really help

diana chang

  • Member
  • Posts: 288
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Tropical rain forest in Borneo. Within the three-dimensional framework of tropical rain forests live Tropical rain forest in Borneo. Within the three-dimensional framework of tropical rain forests live
Reconnect the lower back with the shoulder with a few deep effleurage strokes. Then place one hand ... Reconnect the lower back with the shoulder with a few deep effleurage strokes. Then place one hand ...
Stretch neck in lateral flexion. Place one hand on the head and the other hand on the shoulder and ... Stretch neck in lateral flexion. Place one hand on the head and the other hand on the shoulder and ...
Navel–third eye. Move to the recipient’s right side. Lightly place your left thumb pad between ... Navel–third eye. Move to the recipient’s right side. Lightly place your left thumb pad between ...
Evaluate each of the following: Evaluate each of the following:
For Transport, Put the Amputated Part in a Dry, Sealed Bag and Place It in Cool Water That Contains For Transport, Put the Amputated Part in a Dry, Sealed Bag and Place It in Cool Water That Contains
Video: Metaphase I Animation

For a complete list of videos, visit our video library