Stagflation" refers to
A. a simultaneous increase in output and the price level.
B. a simultaneous reduction in output and the price level.
C. an increase in the price level accompanied by decreases or leveling off in real output and employment.
D. a decline in the price level accompanied by increases in real output and employment.
C. an increase in the price level accompanied by decreases or leveling off in real output and employment.
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Which of the following is the best example of how the question of "what goods and services to produce?" is answered by the command process?
A) government subsidies for windmill energy production B) laws regarding equal opportunity in employment C) government allowance for the deduction of interest payments on private mortgages D) government regulations concerning the dumping of hazardous waste
Who is included in the labor force by the Bureau of Labor Statistics?
a. Dia, an unpaid homemaker not looking for other work b. Kevin, a full-time student not looking for work c. Sarah, who does not have a job but is looking for work d. None of the above is correct.
The figure below shows the supply and demand curves for oranges in Smallville.
At a price of $4 per pound there will be an excess ________ of ________ pounds of oranges per day.
A. supply; 10 B. supply; 20 C. demand; 30 D. demand; 20
In the late 1970s and early 1980s the goals of fiscal policy were
A. completely attained. B. largely attained. C. largely unattained. D. completely unattained.