Which of the following is the main cause of the persistent inflation that we have experienced in the United States?
A. demand-side inflationary factors
B. supply-side inflationary factors
C. a combination of supply- and demand-side inflationary factors
D. supply-side secularity factors
Answer: A
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Extensive government restrictions on the use of capital are likely to
A) result in capital resources being devoted to their most efficient uses. B) enhance economic growth. C) enhance economic freedom. D) create dead capital.
There is evidence that income per worker is converging in
A) the richest countries and the poorest countries. B) the richest countries, but not the poorest countries. C) the poorest countries, but not the richest countries. D) neither the richest nor the poorest countries.
Pick the economic variable that is countercyclical
a. Wages b. Investment c. Government transfer payments d. Nominal interest rates e. All of the above are countercyclical variables
Economic growth is
A. cannot be illustrated by the shift of a production possibilities curve, while economic development can. B. includes improvements in the quality of life, while economic development considers only GDP per capita. C. defined qualitatively, while economic development is more quantitative in nature. D. defined quantitatively, while economic development is more qualitative in nature.