Other Things the Same,continued Technological Progress and Continued Increases in the Money

question 62

Multiple Choice

Other things the same,continued technological progress and continued increases in the money supply would unambiguously lead to

• A)rising prices only.
• B)rising real GDP only.
• C)rising prices and rising real GDP.
• D)neither rising prices nor rising real GDP.

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Definitions:

Excess Supply

A situation in the market where the quantity of a good offered by producers exceeds the quantity demanded by consumers at a given price, leading to surplus.

Binding Price Floor

A price floor established by the government that exceeds the market equilibrium price, resulting in an excess supply of products or services.

Market Outcome

is the result of economic activities within a market, determined by the interaction of supply and demand.

English Textbooks

Books specifically designed for the study or teaching of the English language.