Stagflation is:
A. high inflation despite low economic growth and low unemployment.
B. low economic growth, despite low inflation and low unemployment.
C. high unemployment, despite low inflation and low economic growth.
D. high inflation along with low economic growth and high unemployment.
D. high inflation along with low economic growth and high unemployment.
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With time, which one of the following strategies would most likely result in an outward shift in the production possibilities curve of an economy?
a. passage of legislation reducing the workweek to 30 hours. b. instituting a tax policy encouraging consumption at the expense of investment. c. instituting a tax policy encouraging investment at the expense of consumption. d. an increase in the marginal income tax rate, which would reduce the work effort of individuals.
Barney Oats Co produces 5 varieties of flavored oats. A market survey done by the company revealed that its competitor Sloan co. had a larger share in the market. It was found out that Barney's share of output was one-tenth that of Sloan Co Immediately
afterward, the CEO of Barney Oats decided to reduce the number of flavors and reassign tasks to workers based on their skills. Will the manager's decision increase the output of Barney Oats? Give reasons to support your answer.
The incentives to work that result from the existence of private property accrue to
A. neither the weak nor the strong. B. both the weak and the strong. C. only the strong. D. only the weak.
The classical theory predicts that decreases in the supply of savings will _______ interest rates and _______ investment.
Fill in the blank(s) with the appropriate word(s).