Economic stagnation coupled with high inflation is commonly called:
A. stagflation.
B. inflationary stagnation.
C. stagnatory growth.
D. inflagnation.
Answer: A
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A snowplow will generate a net income of $2,000 per year for its owner. After 8 years, the plow will break down and have zero value. The maximum amount of money anyone would pay for the plow is
a. less than $2,000 b. $2,000 c. between $2,000 and $16,000 d. $16,000 e. more than $16,000
The government of Auspicia increases taxes and cuts spending during a recession. Which of the following is likely to happen in in Auspicia, according to the Keynesians?
A. Reduction in unemployment B. Increase in consumption C. Decrease in economic activity D. Increase in investment
Recessions are always caused by negative demand shifts.
Answer the following statement true (T) or false (F)
Which of the following numbers, if it were equal to the 80/20 ratio for a particular country, would indicate the most inequality?
A. 1 B. 2 C. 0 D. 0.5