A situation in which output decreases while prices increase is often referred to as:
A. inflation.
B. negative economic growth.
C. a recession.
D. stagflation.
Answer: D
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Which of the following REDUCES equality of income or wealth relative to the market distribution?
A) government payments to the poor B) a regressive income tax C) high taxes on bequests D) non-assortative mating
A monopolist is producing at an output level at which ATC = $5, P = $6, MC = $4, and MR = $3. We can conclude that
A) economic profit could be increased by producing more. B) economic profit could be increased by producing less. C) economic profit cannot be increased. D) the firm is earning $10 in economic profits.
One of the things that employers can do to lessen the moral hazard problem involving their employees is to pay them in advance for their work
a. True b. False Indicate whether the statement is true or false
What are the characteristics of perfect competition?
What will be an ideal response?