The problem in many middle- and low-income economies around the world is very high __________, which generally arises from huge budget deficits that are financed by the government printing its domestic currency.
a. inflation
b. unemployment
c. taxes
d. leverage
a. inflation
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Consider the budget line in the above figure. If the price of a magazine is $4, then the price of a hamburger is
A) $1.75. B) $3.00. C) $4.00. D) $5.33.
"Free riding" is a characteristic of which type of good?
A) a private good B) a good that is both rival and excludable C) a public good D) a common resource
Goods known as substitutes increase the use of another good.
a. true b. false
How did the existence of the baby boom generation change demand in the United States?
a. Demand was raised for different goods with each age the baby boomers reached. b. After they reached the teenage years, the baby boomers were integrated into the society and no longer affected demand. c. People were poorer because they had so many children, so demand was lowered. d. The baby boomers did not raise demand until they became adults, when they had their own money to spend.