Which of the following causes stagflation?
A. Wage increases equal productivity increases, thereby setting off inflation.
B. A leftward shift in the aggregate demand curve.
C. Workers push costs upward and thereby initiate inflation.
D. A leftward shift in the aggregate supply curve.
Answer: D
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Entrepreneurs engage in
A) arbitrage. B) innovation. C) imitation of other successful entrepreneurs. D) all of the above.
What condition must be satisfied so that society is producing the efficient mix of output? Why does this condition guarantee efficiency?
What will be an ideal response?
The term "market" refers to trading arrangements by which buyers and sellers come together
Indicate whether the statement is true or false
Point X is in the _____ phase of the business cycle.
A. prosperity
B. recovery
C. recession
D. depression