Disinflation is a
a. reduction in the price level, whereas deflation is a reduction in the rate of inflation.
b. reduction in the rate of inflation, whereas deflation is a reduction in the price level.
c. slow reduction in the price level, whereas deflation is a rapid reduction in the price level.
d. rapid reduction in the price level, whereas deflation is a slow reduction in the price level.
b
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The idea that contact with others with high levels of human capital increases ones own human capital is called human capital
A) contagion. B) externality. C) transference. D) convergence.
Both President Bush and President Obama wanted tax cuts to stimulate consumer spending during the 2007-2009 recession
a. True b. False Indicate whether the statement is true or false
In a competitive economy, the market system can still fail to produce the efficient level of output due to side effects called ______.
a. externalities b. subsidies c. signals d. warranties
Because of the free-rider problem:
A. the market demand for a public good is overstated. B. the market demand for a public good is nonexistent or understated. C. government has increasingly yielded to the private sector in producing public goods. D. public goods often create serious negative externalities.