Since 1970, the United States experienced stagflation
A. during all five recessionary periods.
B. during none of the five recessionary periods.
C. only during the most recent recessionary period.
D. only during the first two recessionary periods.
Answer: D
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What will be an ideal response?
If opening up international trade resulted in the U.S. importing ballpoint pens, what would tend to happen to the U.S. price of ballpoint pens? a. The domestic price will fall
b. The domestic price will rise. c. The domestic price will remain constant. d. It is impossible to predict the impact.
An economy is better off with an increase in the stock of capital.
Answer the following statement true (T) or false (F)
The market for gasoline in May is in equilibrium, at a market clearing price of $2.50 per gallon. After Memorial Day, the demand curve for gasoline increases, which causes
A) the demand curve for gasoline to shift to the right, creating a shortage at $2.50 per gallon which causes the market clearing price of gasoline to rise. B) the demand curve for gasoline to shift to the right, creating a shortage at $2.50 per gallon which causes the market clearing price of gasoline to fall. C) the demand curve for gasoline to shift to the left, creating a shortage at $2.50 per gallon which causes the market clearing price of gasoline to rise. D) the demand curve for gasoline to shift to the left, creating a shortage at $2.50 per gallon which causes the market clearing price of gasoline to fall.