Which of the following is true of the inflation experienced by the Latin American countries during the 1980s and early 1990s?
a. In 1990, annual inflation in Brazil and Argentina was below 10 percent
b. In the late 1980s, Brazil and Argentina experienced a steady inflation of 4 percent.
c. In the late 1980s, Brazil and Argentina experienced deflation.
d. In 1990, annual inflation in Brazil and Argentina climbed to over 2000 percent.
d
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The demand curve shown in the figure above is ________ over the price range from $95 to $105 per unit
A) perfectly elastic B) perfectly inelastic C) unit elastic D) elastic but not perfectly elastic E) inelastic but not perfectly inelastic
If long-term investments are increasing,
a. current consumption must be increasing. b. interest rates must be relatively low. c. interest rates must be relatively high. d. the people must be experiencing a "defective telescopic faculty."
One reason economists have difficulty applying the scientific method is because:
A. the scientific method does not apply to economics. B. economic conditions are constant. C. people are involved, and their behavior is entirely unpredictable. D. controlled laboratory experiments are often infeasible and sometimes impossible.
Why is the gross domestic product one of the indicators of prosperity?
What will be an ideal response?