The absence of unexpected shocks, the economy will tend to experience:
A. positive, noninflationary growth.
B. no changes in output or prices.
C. positive growth with mild amounts of deflation.
D. positive growth with mild amounts of inflation.
D. positive growth with mild amounts of inflation.
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A real cost of tariffs and quotas that is difficult to measure is that they
A) encourage rent seeking. B) shift income from consumers to producers. C) limit the quantity of imports. D) reduce wages. E) cause deflation.
Which of the following will decrease the price needed to break even?
a. A decrease in overall fixed but avoidable costs b. A decrease in the marginal costs c. An increase in sunk costs d. Both A&B
If the exchange rate value of one U.S. dollar changes from 120 Japanese yen to 140 yen,
a. the U.S. dollar has appreciated relative to the yen. b. the Japanese yen has depreciated relative to the dollar. c. the U.S. dollar has depreciated relative to the yen. d. both a and b have occurred.
What is the difference between explicit collusion and implicit collusion?
What will be an ideal response?