The automatic mechanism ________ the price level in the case of ________ and ________ the price level in the case of ________.Group of answer choicesraises; recession; lowers; expansionraises; expansion; raises; recessionlowers; expansion; lowers; recessionlowers; recession; raises; expansion

The term economists use to describe a situation in which the economy's overall price level is rising isGroup of answer choicesgrowth.inflation.recession.expansion.

A decline in the price levels is called

If the price level in year 1 was equal to 100 and the price level in year 2 was equal to 1,000, in year 2 the country is experiencing:Group of answer choicesstable priceshyperinflationdeflationinflation

When the price level rises in an economy, the average price of all goods and services sold ____________.a.increasesb.decreasesc.remains the samed.remains below the optimum levelsClear my choice

A decrease in the price level ________ real wealth, which causes consumption to ________. a. raises; increase b. raises; decrease c. lowers; increase d. lowers; decrease