If Long-Run Economic Growth Is Not Accompanied by a Change

question 6

Multiple Choice

If long-run economic growth is not accompanied by a change in aggregate demand, the result will be

• A)persistent inflation.
• B)secular deflation.
• C)devaluation of the dollar.
• D)appreciation of the dollar.

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Definitions:

Legal Consideration

An essential element of a contract, referring to something of value promised to another when making an agreement.

Contract Was Formed

A statement indicating that an agreement meeting all legal requirements for enforceability (offer, acceptance, consideration) has been successfully established between parties.

Consideration Requirement

A fundamental principle in contract law that requires both parties involved in a contract to exchange something of value for the agreement to be legally binding.

Legal Value

Consideration or a benefit recognized by the law that supports a contract's enforceability.