Inflation caused by a rise in the prices of inputs is referred to as:
A. Cost-push inflation
B. Demand-pull inflation
C. Unanticipated inflation
D. Hyperinflation
A. Cost-push inflation
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Suppose the table below describes the demand for a good produced by monopolist.PriceQuantity$101$92$83$74$65$56$47The monopolist's marginal revenue from selling the 4th unit of output is less than $7 because:
A. demand is perfectly elastic. B. marginal cost is greater than $3. C. the consumer only pays $4 for the 4th unit. D. it has to charge $1 less for each of the first 3 units of output.
The analysis of Chapter 15 argues that the painfully slow recovery following the Great Recession, in which the accumulation of mistakes during the housing bubble are not being fully corrected, is explained by
A) the Fed's continued attempt to keep interest rates low and "help" the housing sector recover. B) the negative consequences of deficit policies that attempt to "stimulate" the economy. C) both of the above reasons. D) neither of the above reasons.
If the interest rate is 10 percent, the present value of a payment of $1,000 one year from today is
A) $900. B) $909. C) $1,000. D) $1,100.
One of the reasons that Real Gross Domestic Product is not synonymous with social welfare is
A. people substitute between goods. B. quality has remained steady. C. things produced by people under 18 are not counted. D. it treats all spending the same (spending on military hardware is treated the same as spending on education).