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The broadest measure of the price level that includes all final goods and services is
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- Referring to the diagram above, which of the following is a true statement?The increase in supply (Q1 to Q2) may come about because of increased money supply.The increase in output (Q1 to Q2) may come about because of lower levels of taxation.The increase in supply (Q1 to Q2) may result from decreased government spending.The increase in supply (Q1 to Q2) may result from decreased government spending.
- A basket of goods costs $800 in the U.S. In Belgium the basket of goods costs 800 euros and the exchange rate is .80 euros per U.S. dollar. In Japan the basket of goods costs 720,000 yen and the exchange rate is 900 yen per dollar. Which country has a real exchange rate equal to 1 with the U.S.?1)both2)Belgium but not Japan3)Japan but not Belgium4)neither Belgium nor Japan