If an increase in the price of some goods outweighs other prices that remain constant or decrease then there is:
A. Inflation.
B. Deflation.
C. Stagflation.
D. Reflation.
A. Inflation.
You might also like to view...
What is the difference between fiscal policy and monetary policy?
What will be an ideal response?
In a labor-market pooling equilibrium with high-skill and low-skill workers and where a costly educational degree is used as a signaling device, all else equal, an increase in the wage differential between high- and low-skill workers leads to
A) an increase in the required minimum share of high-skill workers. B) a decrease in the required minimum share of high-skill workers. C) no change in the required minimum share of high-skill workers. D) None of the above answers are correct.
An individual's decision to supply her labor or to spend her time in leisure activity is known as the labor-leisure tradeoff
a. True b. False Indicate whether the statement is true or false
Tim mows the yard for his neighbors. He spends $1 on gas and charges them $20 for each lawn he mows. What's the total contribution to GDP each time Tim mows a yard?
a. $1 b. $19 c. $20 d. $21