Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation.
B. low economic growth and high inflation.
C. high economic growth and low inflation.
D. low economic growth and low inflation.
Answer: B
You might also like to view...
Using the data in the above table, if income is on the x-axis and the amount spent on restaurant meals is on the y-axis, the graph of the two variables would be
A) upward sloping. B) downward sloping. C) vertical. D) horizontal.
After trade opens, the short run impact on the income of the variable factor will be
A) a decrease. B) an increase. C) zero. D) indeterminate, depending on the consumption pattern of the owners of the variable factor. E) indeterminate, depending on the productivity of the variable factor.
Entry continues as long as
A) economic profits are zero. B) accounting profits are positive. C) accounting profits are positive and economic profits are negative. D) economic profits are positive.
The company where Bruce worked decided to shut down one of its factories. Bruce was laid off as part of a permanent reduction in workforce in August 2008 . He was unemployed at the time of an employment survey in September 2008 but started working again in December 2008 . This is an example of _____
a. frictional unemployment b. seasonal unemployment c. cyclical unemployment d. structural unemployment