Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation.
B. low economic growth and high inflation.
C. high economic growth and low inflation.
D. low economic growth and low inflation.
Answer: B
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________ increases with education, training, and job experience. i. Physical capital ii. Human capital iii. Financial capital
A) i only B) ii only C) iii only D) Both ii and iii E) i, ii, and iii
The aggregate demand curve is drawn downward-sloping, because increases in the price level cause decreases in:
a. unemployment. b. total spending (real GDP). c. households' savings. d. the value of the dollar.
A technological advance that reduces the cost of producing computers will shift the supply curve of computers to the right
a. True b. False Indicate whether the statement is true or false
Average fixed costs rise continuously as quantity of output rises.
a. true b. false