In the 1970s, the main economic problem was
A. stagflation.
B. huge budget surpluses.
C. a slow growing money supply.
D. an economy that was expanding too rapidly.
A. stagflation.
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Will an increase in the minimum wage create more unemployment if the supply and demand for labor are highly elastic or highly inelastic?
What will be an ideal response?
The producer surplus on a unit of output is the difference between the market price and the opportunity cost of producing it
Indicate whether the statement is true or false
The purchase of VCU2 by Tomas Tiergarten, a private resident, causes the nation's:
a. Monetary base to rise. b. M2 money supply to rise. c. M2 money multiplier to rise. d. Monetary base to remain the same.
There is no relationship between a country's productivity and its standard of living.
Indicate whether the statement is true or false.