A dramatic and sustained increase in oil prices would most likely:
A. increase demand-pull inflation.
B. decrease demand-pull inflation.
C. increase cost-push inflation.
D. decrease cost-push inflation.
Answer: C
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Refer to the information provided in Table 6.2 below to answer the question(s) that follow. Table 6.2Number ofCandy Bars per DayTotal UtilityMarginal Utility140?275?3100?4115?5?5Number ofHot Dogs per DayTotal UtilityMarginal Utility130?254?372?484?5?6Refer to Table 6.2. The marginal utility of the second candy bar per day is
A. 10. B. 15. C. 35. D. 55.
Advances in computing power is an example of:
A) labor-saving technological changes. B) skill-biased technological changes. C) unskilled-biased technological changes. D) labor-complementary technological changes.
Suppose that the country of Pacifica imposes a quota on bananas. The reason that the government imposed this trade restriction could be
A) that the government of Pacifica needs to increase its revenue. B) lobbying from banana farmers in Pacifica. C) comparative advantage. D) Both answers A and B are correct.
Pension plans, because of the __________-term nature of their liabilities, prefer to hold __________-term assets
A) long; long B) long; short C) short; long D) short; short