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:

Economic Policies

Economic policies are strategies and decisions made by governments or institutions to influence or control the economic behavior of a country or region.

Southern Society

Refers to the social structure and culture of the American South, historically characterized by agrarian economy, plantation system, and social stratification including slavery.

Reconstruction Era

The period following the Civil War in the United States, from 1865 to 1877, aimed at rebuilding and reintegrating Southern states into the Union and defining the new rights of freed slaves.

Presidential Phase

A period in a country's political cycle where the executive branch, led by the president, plays a dominant role in governance and policy-making.