ead the statements below carefully, and decide whether it is true or false. And then explain your answer (whether “true “ or “false”). 1.A recession is defined as a period when the economy’s average price level is rising. 2. Inflation caused by a rise in per-unit production costs is referred to as demand-pull inflation. 3. Both final and intermediate goods and services should be counted in national income accounts. 4. A contractionary monetary policy will cause the general price level to rise in the short run. 5. If net exports is positive, a nation's exports of goods and services exceed its imports.
ead the statements below carefully, and decide whether it is true or false. And then explain your answer (whether “true “ or “false”). 1.A recession is defined as a period when the economy’s average price level is rising. 2. Inflation caused by a rise in per-unit production costs is referred to as demand-pull inflation. 3. Both final and intermediate goods and services should be counted in national income accounts. 4. A contractionary monetary policy will cause the general price level to rise in the short run. 5. If net exports is positive, a nation's exports of goods and services exceed its imports.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Read the statements below carefully, and decide whether it is true or false. And then explain your answer (whether “true “ or “false”).
1.A recession is defined as a period when the economy’s average
2. Inflation caused by a rise in per-unit production costs is referred to as demand-pull inflation.
3. Both final and intermediate goods and services should be counted in
4. A contractionary
5. If net exports is positive, a nation's exports of goods and services exceed its imports.
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