Demand-pull inflation:
A. occurs when total spending in the economy is excessive.
B. is measured differently than cost-push inflation.
C. can be present even during an economic depression.
D. is also called "hyperinflation."
A. occurs when total spending in the economy is excessive
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Reducing a tariff will ________ the domestic production of the good and ________ the total domestic consumption of the good
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
In the long run, firms in many industries often experience falling average total costs as a result of
a. gains through trade. b. increasing marginal returns. c. economies of scale. d. lower fixed costs.
An economist advising a central bank intending to reduce the inflation rate would likely point out that
a. the costs of reducing inflation persist and the costs of reducing it do not depend on the public's inflation expectations. b. the costs of reducing inflation persist, but they are smaller if the public reduces its inflation expectations. c. the costs of reducing inflation are temporary and the costs of reducing it do not depend on the public's inflation expectations. d. the costs of reducing inflation are temporary and the costs are smaller if the public reduces its inflation expectations.
Discouraged workers are workers who have:
What will be an ideal response?