Economic stagnation coupled with high inflation is commonly called:
A. stagflation.
B. inflationary stagnation.
C. stagnatory growth.
D. inflagnation.
Answer: A
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Assume the required reserve ratio is 10 percent and the FOMC orders an open-market sale of $50 million in government securities from member banks. If the oversimplified money multiplier is assumed, then the money supply will
A. increase by $500 million. B. increase by $100 million. C. decrease by $100 million. D. decrease by $500 million.
The extra benefit associated with producing or consuming the next unit is called the:
A. revenue product. B. spillover. C. marginal benefit. D. economic benefit.
What happens when wages are set above the equilibrium level by law?
What will be an ideal response?
For a Giffin good, the income effect is
A. less than the substitution effect. B. the same as the substitution effect. C. greater than the substitution effect. D. in the same direction of the substitution effect.