From November 1993 to December 1994, the Democratic Republic of the Congo experienced an inflation rate of 69,502. This economic condition would best be described as:
a. Cost-push inflation
b. A cost-of-living adjustment
c. Anticipated inflation
d. Hyperinflation
d. Hyperinflation
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When individuals or firms make an investment, they incur costs today in the hope of future gains
Indicate whether the statement is true or false
A price-discriminating firm will always maximize profit by following the condition that
A. MR > MC. B. MR > P. C. MRa = MRb = MC. D. MR = ATC.
Ceteris paribus, the demand curve for a good will shift to the right in response to:
A. A decrease in income. B. An increase in the costs of production. C. An increase in tastes or preferences for the good. D. A higher price for the good.
Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. The equation for the aggregate consumption function is
A. C = 60 + 0.7Y. B. C = 140 + 0.5Y. C. C = 60 + 0.4Y. D. C = 80 + 0.6Y.