What is the price level?
What will be an ideal response?
Question 2
Suppose there is no unemployment in the economy and society decides that it wants more of one good. Which of the following statements is true?
A) It can only achieve this with an advance in technology.
B) It will have to give up production and consumption of some other good.
C) It can only achieve this with an increase in resource supplies.
D) It can increase output without giving up another good.