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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Which of the following is not a form of money?
a. checkable deposits b. travelers' checks c. currency d. credit cards
Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of berries each day, and Jim can either catch 8 fish or gather 24 pounds of berries each day. Both of them work 200 days per year. At current world prices 1 fish trades for 3.5 pounds of berries. If they open up to trade and the citizens of the island consumed 1,200 fish per year, how many pounds of berries can they consume every year?
A. 9,400 pounds B. 12,800 pounds C. 8,000 pounds D. 9,200 pounds
Use the following information to answer the next question.C = A + .75(Y - T)A = $900I = $600G = $400T = $400NX = -$200At the equilibrium level of real GDP, what is the level of consumption?
A. $900 B. $2,000 C. $4,800 D. $3,600
Trade disputes between the U.S. and Japan could be mediated by
A. UNESCO. B. NAFTA. C. the WTO. D. U.S. courts.