The chief difference between one-shot inflation and continued inflation is that
A) Keynesians believe all inflations are one-shot inflations and monetarists believe all inflations are continued inflations.
B) one-shot inflation is long and continued inflation is short.
C) one-shot inflation is a single increase in the price level and continued inflation is a sustained increase in the price level.
D) monetarists believe all inflations are one-shot inflations and Keynesians believe all inflations are continued inflations.
C
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Which of the following is not a store of value?
a. Dollar bills. b. Credit card. c. Coins. d. Gold.
Which of the following would be most likely to contribute to the breakdown of a cartel in a natural resource (e.g., bauxite) market?
a. high prices b. low price elasticity of demand c. high compatibility of member interests d. unequal member ownership of the natural resource
The Coase Theorem works because the negotiation
A. makes neither party better off. B. makes both parties better off. C. makes the party with the property rights better off. D. makes both parties equally better off.
National income accounting is defined as the
A. Assessment of the distribution of output. B. Measurement of aggregate economic activity. C. Use of economic theory to predict future income. D. Accounting cost associated with economic choices.