The concurrent problems of inflation and unemployment are termed:
a. depression.
b. downturn.
c. deflation.
d. demand-pull inflation.
e. stagflation.
e
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A consequence of increasing marginal costs of producing laptop computers in the United States is
A) the United States will not export laptop computers. B) the United States will stop short of complete specialization in the production of laptop computers. C) the United States will likely impose trade restrictions on imported laptop computers. D) the United States will import laptop computers from countries that don't experience increasing marginal costs.
Suppose a monopolist's costs and revenues are as follows: ATC = $50.00; MC = $45.00; MR = $40.00; P = $55.00. The firm should
A) increase output and decrease price. B) decrease output and increase price. C) not change output or price. D) shut down.
If Bart has budget constraint A in the graph shown, what would cause his budget constraint to shift to B?
This graph shows three different budget constraints: A, B, and C.
A. Bart's income has decreased.
B. The price of soda has increased.
C. The price of soda has decreased.
D. The price of milk has increased.
Under the gold standard system, 1 ounce of gold was worth $23 in the United States and worth 15.5 pounds in Great Britain. If the price of gold in Great Britain decreases by 10%, then:
A) the new exchange rate would show approximately 10% depreciation of the dollar. B) $1 = 1.64 pounds. C) 1 pound = $1.64. D) the new exchange rate would show approximately 10% depreciation of the dollar, and 1 pound would be equal to $1.64.