In general terms describe trends in the inflation rate, considering the period since 1953 . How are these trends related to movements in the inflation rate over this period?
What will be an ideal response?
Trend inflation rose steadily in the 1950s and 1960s, then rose dramatically during the 1970s. Beginning in the early 1980s, inflation fell precipitously until 1987, then has remained relatively constant around 2% since.
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In January, 2,500 quarts of ice cream are sold in Boston at $2.50 a quart. In February, 3,000 quarts are sold at $2.00 a quart. This change in quantity sold and price may have been caused by
A. a reduction in wages in the Boston area. B. the introduction of labor-saving automated ice cream-packing machinery. C. the release of a medical study showing that ice cream consumption improves mental health. D. the decision by Boston ice cream sellers to eliminate discount coupons.
In the simultaneous move labor negotiation game:
a. The payoffs are always higher if you accommodate b. The payoffs are always higher if you bargain hard c. The payoffs from accommodating are only higher if your opponent bargains hard d. The payoffs from accommodating are only higher if your opponent accommodates
Which of the following is the best example of physical capital used to produce a textbook?
a. the expertise and writing ability of the author b. the ink used in the printing press c. the printing press d. the property on which the publisher's office is located e. the time spent by editors reviewing the textbook
Suppose that a country has $120 billion of national saving, and $80 billion of domestic investment. Is this possible? Where did the other $40 billion of national savings go?