1) Which of the following is NOT a factor of production? a) money b) land c) labor 2) What is inflation? a) An increase in the general price level of goods and services in an economy over a period of time. b) A decrease in the general price level of goods and services in an economy over a period of time. c) c) A period of economic growth. 3) Which economic policy aims to increase aggregate demand through government spending and/or tax cuts? a) b) Expansionary Fiscal Policy b) a) Contractionary Monetary Policy

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