1. The purchasing power of money in an economy rises when the overall price level increases.

Group of answer choices

True

False

2. Inflation is defined as a continuing rise in the general level of prices of goods and services.

Group of answer choices

True

False

3. An appreciation of the U.S. Dollar would make it less expensive for U.S. citizens to travel around the world.

Group of answer choices

True

False

4.

An import quota places a maximum limit on the amount of a product that can be imported during a specific time period.

Group of answer choices

True

False

5.

During the last hundred years, the growth rate of Real GDP in the United States have averaged approximately 3% per year.

Group of answer choices

True

False