In the Long Run, Technological Progress

question 322

Multiple Choice

In the long run, technological progress

• A)and increases in the money supply both make the price level rise.
• B)and increases in the money supply both make the price level fall.
• C)makes the price level rise, while increases in the money supply make prices fall.
• D)makes the price level fall, while increases in the money supply make prices rise.

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Definitions:

Remedies

Legal means or measures available to a party to enforce a right or redress a harm or violation.

Specific Performance

A legal remedy requiring a party to fulfill their exact obligations under a contract, rather than simply providing monetary damages for failure to do so.

Lien

A legal right or claim against a property by a creditor to ensure the payment of a debt.

Rescission

The revocation of a contract or agreement.