The “cost disease of personal services” phenomenon helps explain why medical care has become so expensive.
Answer the following statement true (T) or false (F)
True
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If the price level should increase in the near term due to decreases in the short-run aggregate supply, the result would be
A) demand-pull inflation. B) demand-pull recession. C) cost-push inflation. D) cost-pull expansion.
When the economy fluctuates around its long-run aggregate supply:
A. it is called the business cycle. B. the economy is in a state of chaos. C. the value of currency becomes unstable. D. we must be in a recession.
The money market is definitely in equilibrium in which of the following cases?
a) when velocity is constant b) when the quantity of money demanded equals the quantity of money supplied c) when the present value is equal to the interest rate d) when the present value is greater than the interest rate e) when the interest rate is equal to the price of bonds
Eventually the process of capital deepening comes to a halt as depreciation catches up with total saving.
Answer the following statement true (T) or false (F)