When an economy experiences hyperinflation, it has:
A. extremely long-lasting and painful increases in the price level that slows economic growth.
B. a long period of low, steady inflation that aids in economic growth.
C. extremely long-lasting and painful increases in the price level that encourages economic growth.
D. a long period of stagnant economic growth, and inflationary tactics are used by the government to raise prices.
A. extremely long-lasting and painful increases in the price level that slows economic growth.
You might also like to view...
A monopolist sells to two consumer groups, students and non-students
Demand for students: Q = 500 - 1/2P Demand for non-students: Q = 750 - 2P MC = 20 Find the profit-maximizing price/quantity combination in each market if the groups can be separated.
Cyclical unemployment is primarily caused by:
A. a large proportion of youthful workers in the labor force. B. fluctuations in aggregate demand. C. a lack of training on the part of job seekers. D. the failure of job seekers to search adequately for the available jobs.
Recall the Application about the manufacture of fake killer whales used to scare sea lions off the Washington coast to answer the following question(s).Recall the Application. What is the indivisible input and what are its implications for economies or diseconomies of scale?
What will be an ideal response?
In what cases would the market share held by the dominant firm be or not be an especially relevant or important factor in determining whether a firm has too much market power?
What will be an ideal response?