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 130 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
:D TYSM

upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Horizontal stroking of the abdomen. Place a hand on either side of the waist, fingers pointing away ... Horizontal stroking of the abdomen. Place a hand on either side of the waist, fingers pointing away ...
Apply two-hand petrissage over the entire upper back. Place palms flat on back next to each other. ... Apply two-hand petrissage over the entire upper back. Place palms flat on back next to each other. ...
Place a towel or sheet over knee area. Use a thin barrier to protect skin from cold source. Place a towel or sheet over knee area. Use a thin barrier to protect skin from cold source.
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 ...
How to evaluate algebraic expressions with given terms How to evaluate algebraic expressions with given terms
Video: The Krebs Cycle Animation

For a complete list of videos, visit our video library