Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Based on this data, which years reflect a short-run change in aggregate demand?
A. 1, 3, and 5
B. 2, 3 and 4
C. 1, 2, and 3
D. 3, 4, and 5
Answer: C
You might also like to view...
A country's GNP is always larger than its GDP
Indicate whether the statement is true or false
Which of the following are examples of cooperative games?
A) The bargaining between a buyer and seller over the price of a car B) Independent action by two firms in a market regarding advertising strategies C) Independent pricing strategies by two firms in a market D) Independent pricing strategies by many firms in a market E) Team games (such as baseball or basketball)
The idea that an action should be undertaken if and only if the benefits exceed the costs is known as the concept of
a. economic efficiency. b. public welfare maximization. c. marginal comparative advantage. d. monetary construction of values.
Oligopolies can be characterized as a strategic game among rival companies.
Answer the following statement true (T) or false (F)