A period of very rapid increases in the overall price level is known as
A. depression.
B. hyperinflation.
C. stagflation.
D. stagnation.
Answer: B
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Exchange rates that are allowed to fluctuate in the open market in response to changes in supply and demand are known as
A) fixed exchange rates. B) gold exchange rates. C) flexible exchange rates. D) IMF exchange rates.
Refer to Figure 31.2 for a monopsonist employer. From the monopsonist's standpoint, the optimal wage and employment level would be
A. $6 per hour and 40 employees. B. $9 per hour and 40 employees. C. $7 per hour and 50 employees. D. $11 per hour and 50 employees.
"A monopolist refers to any firm that is large in size." Do you agree or disagree? Why?
What will be an ideal response?
A decrease in the price of domestically produced nuclear reactors will be reflected in Select one:
a. both the GDP deflator and the consumer price index.
b. neither the GDP deflator nor the consumer price index.
c. the GDP deflator but not in the consumer price index.
d. the consumer price index but not in the GDP deflator.