Stagflation is defined as:
a. decreased output accompanied by a higher price level.
b. decreased output accompanied by a lower price level.
c. increased output accompanied by a lower price level.
d. increased output accompanied by a higher price level.
e. stagnation in the rate of inflation.
a
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Which of the following is an example of an expansionary monetary policy action?
A. Raising the discount rate B. Selling bonds C. Reducing the reserve requirement D. Lowering the prime rate
Answer the following statements true (T) or false (F)
1. Monopolistic ally competitive firms exist due to high barriers to entry. 2. Monopolistic ally competitive firms have some control over the price of their products. 3. Brand names and packaging are forms of product differentiation under monopolistic competition. 4. The demand curve faced by a monopolistic ally competitive firm is more elastic than the monopolist's demand curve. 5. The larger the number of firms in an industry and the less the extent of product differentiation, the greater will be the elasticity of the individual seller's demand curve.
The ________ nature of economic growth is one of the major reasons why there are large differences in GDP per capita across countries
A) linear B) quadratic C) exponential D) logarithmic
When tax revenue ________ outlays is positive, then the government has a budget ________
A) minus; surplus B) divided by; surplus C) minus; deficit D) plus; deficit E) plus; surplus