Stagflation refers to a situation in which the economy is experiencing:

A. high economic growth and high inflation.
B. low economic growth and high inflation.
C. high economic growth and low inflation.
D. low economic growth and low inflation.


Answer: B

Economics

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Economics

If the incentive to take advantage of a conflict of interest is high

A) removing the economies of scope that created the conflict may induce higher costs because of the decrease in the flow of reliable information. B) then the government must step in to remove the conflict. C) the costs of non-action in removing the conflict will always be higher than the cost of removing the conflict. D) firms will always step in and work to remove the conflict.

Economics

Economist A. P. Lerner's idea that equality of income maximizes society's welfare is based on the assumption that

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Economics

If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only the United States would benefit from trade if the actual terms of trade between corn and wheat were 2:1.

Answer the following statement true (T) or false (F)

Economics