Economic stagnation coupled with high inflation is commonly called:
A. stagflation.
B. inflationary stagnation.
C. stagnatory growth.
D. inflagnation.
Answer: A
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Refer to Figure 12-1. If the firm is producing 500 units
A) it should maintain its output to maximize profit. B) it is making a profit. C) it is making a loss. D) it should increase its output to maximize profit.
Economists believe that people who force themselves to always eat everything on their plate at a restaurant, regardless of how full they might feel, likely do so because:
A. they gain negative utility from insulting the chef. B. they overvalue the opportunity costs of their health and time involved with eating food they don't really want. C. they include the sunk cost of their meals in making their decision. D. they undervalue the true benefit of eating too much.
In the United States, _____
a. younger female workers tend to experience a higher rate of unemployment, but the rate of unemployment decreases as age increases b. male workers tend to experience a higher rate of unemployment, but the rate of unemployment decreases as experience increases c. female workers from a Hispanic background tend to experience a higher rate of unemployment than male workers from a Hispanic background d. younger female workers with a high school diploma tend to experience a higher rate of employment than female workers with a college education
In explaining why the level of investment spending fell to such a low level during the Great Depression, Keynes argued that
A. consumers were not saving enough of their income, so there was little credit available to businesses. B. the interest rate was too high. C. the interest rate was too low. D. businesses held bleak expectations concerning future business activity and were unwilling to borrow even at low interest rates.