In which of these years was there very high inflation and a recession?
A. 1937
B. 1980
C. 1990
D. 2001
B. 1980
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According to this Application, tariffs in the United States are very high on textiles, apparel items and footwear. These tariffs disproportionately impact lower-income households because
A) these products represent a higher fraction of consumption of lower-income households than higher-income households. B) the tariffs are only applicable to lower-income households. C) higher-income households tend to purchase products produced in the United States, which are not subject to tariffs. D) lower-income households tend to purchase more of these items than do higher-income households.
The classical economists' contention that prices double when the money supply doubles is predicated on the belief that in the short run velocity is ________ and real GDP is ________
A) constant; constant B) constant; variable C) variable; variable D) variable; constant
In the economy of Talikastan in 2015, consumption was $3000, GDP was $5500, government purchases were $1000, imports were $1000, and investment was $1000 . What were Talikastan's exports in 2015?
a. -$500 b. $500 c. $1500 d. $-1500
Consider a car dealership advertises a three-year lease at $250 per month. When you arrive to apply, you discover that the lease requires a down payment of $3600 dollars. You will undertake the lease if
A) you value the lease at least $350 per month. B) you value the lease at least $250 per month, the $3600 is a sunk cost. C) you value the lease less than $350 per month. D) you value buying a new car at $400 per month.