Which of the following is the main cause of the persistent inflation that we have experienced in the United States?
A) supply-side inflationary factors
B) demand-side inflationary factors
C) a combination of supply- and demand-side inflationary factors
D) supply-side secularity factors
B
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The above figure shows the domestic market for tomatoes. Suppose this market is isolated from global competition and there is a support price set at $16. In this figure, what area equals the total subsidy paid to tomato farmers?
A) area E B) area B + area C + area D + area F C) area C + area D + area E + area G D) area A E) area F
Real GDP per capita in the U.S. grows over time
a. True b. False Indicate whether the statement is true or false
When a(n) ________ in investment increases consumption and real GDP, part of the increase in expenditure is on ________, not ________ goods and services
A) increase; exports; U.S.-produced B) decrease; exports ; U.S.-produced C) increase; imports; U.S.-produced D) increase; imports; foreign-produced E) decrease; imports; U.S.-produced
A collusion occurs when: a. firms act together to increase industry output. b. firms act together to decrease industry price. c. firms act together to earn normal profits
d. firms act together to increase social welfare.