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 82 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
Gracias!

sarah_brady415

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Evolutionary ecologists live and do research in contemporary cultures that maintain all or some aspe Evolutionary ecologists live and do research in contemporary cultures that maintain all or some aspe
When teenagers live in single-parent homes, a good relationship with grandparents is related to ... When teenagers live in single-parent homes, a good relationship with grandparents is related to ...
Adolescents are preoccupied with finding their place in the social group as well as society. Adolescents are preoccupied with finding their place in the social group as well as society.
Elbow milk–abdomen rock. Place your left hand under the recipient’s right elbow and lay your ... Elbow milk–abdomen rock. Place your left hand under the recipient’s right elbow and lay your ...
How to evaluate third-order determinants by Minors Method (Question 1) How to evaluate third-order determinants by Minors Method (Question 1)
Arguments take place when partners are home from work Arguments take place when partners are home from work
Video: Plant Defense Mechanisms from Pathogens

For a complete list of videos, visit our video library