Which of these statements describes inflation?
a. It refers to the temporary rise and fall in the price of a particular good in a market.
b. It refers to a one-time shift in the equilibrium price of a good
c. It refers to an increase in the demand for a particular good.
d. It refers to an ongoing increase in prices from year to year.
d
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The liabilities side of a central bank's accounts consists of
A) deposits held by private banks. B) currency in circulation. C) deposits held by private banks and currency in circulation. D) deposits held by foreign banks, domestic assets, and currency in circulation. E) foreign assets and domestic assets.
In ____, each competing firm is determined to sell at a price that is lower than the prices of its rivals, often regardless of whether that price covers the pertinent cost
a. market skimming b. a monopoly c. a price war d. perfect competition
According to Michael Kremer, at which population should technological progress be most rapid?
a. 100 million b. 500 million c. 1 billion d. 7.4 billion
According to the life-cycle theory of consumption, people tend to dissave during their retirement years.
Answer the following statement true (T) or false (F)