Over the last 20 years, the United States experienced periods of considerable:
A. asset price deflation, followed by sudden spurts of goods price inflation.
B. asset price deflation, followed by sudden spurts of asset price inflation.
C. asset price inflation, followed by sudden spurts of asset price deflation.
D. goods price inflation, followed by sudden spurts of goods price deflation.
Answer: C
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Suppose Puerto Rico and Hawaii currently have the same production possibilities so that the above figure is the PPF for hotels and consumption goods in the two areas
Hotels are a capital good that,once built, will help produce still more consumption goods. If Puerto Rico produces more hotels than Hawaii, A) Hawaii's PPF will shift outward further than Puerto Rico's PPF. B) Hawaii's PPF will shift inward. C) Puerto Rico's PPF will not shift. D) Puerto Rico's PPF will shift outward further than Hawaii's PPF. E) Puerto Rico's and Hawaii's PPF will shift outward by the same amount.
A small increase in productivity growth can have a huge impact on a country’s standard of living.
Answer the following statement true (T) or false (F)
The two largest economies in the world in 2012 were:
A. China and the U.S. B. England and the U.S. C. Japan and the U.S. D. China and Germany.
If the crowding-out effect is large, then when government spending increases
A. national income will not increase by much. B. investment will not increase by much. C. the multiplier will be large. D. taxes will automatically increase too.