Which of the following statements best defines hyperinflation?
A) It is a situation when the annual rate of inflation in an economy is between 20% to 50%.
B) It is a situation when the annual rate of inflation in an economy exceeds 50%.
C) It is a situation when the annual rate of inflation in an economy is between 10% to 20%.
D) It is a situation when the annual rate of inflation in an economy is between 0% to 10%.
B
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The purchase by the Canadian government of a fighter jet produced in the United States is included in U.S
A) consumption spending. B) investment spending. C) government purchases. D) net exports.
If we were on Lorenz curve M, the top income quintile receives about _____% of income.
A. 24
B. 40
C. 58
D. 80
Countries that typically run a trade surplus are:
A. China, Germany and the US. B. China, Germany, and Japan. C. Japan, Germany and the US D. China, Japan, and the US.
If a third party pays for an individual to consume a good, how is the decision making of consumers affected? How does this affect the actions of suppliers?