The United States and other industrialized countries experienced rising inflation accompanied by a recession during the 1970s. This phenomenon was described as (a)
a. hyperinflation.
b. stagnation.
c. stagflation.
d. depression.
C
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In 2008, Japan's government approved a $1 trillion fiscal stimulus plan comprised of both tax cuts and government expenditure increases. As a result
A) Japan's aggregate demand curve shifted rightward. B) Japan's aggregate supply curve shifted leftward. C) Japan's aggregate demand curve shifted leftward. D) Japan's long-run aggregate supply curve shifted leftward.
A minimum wage that is below the equilibrium wage rate does not raise unemployment
a. True b. False Indicate whether the statement is true or false
__________________: Occasionally, properties are sold with nonmarket financing. Favorable mortgage financing may allow buyers to pay a somewhat higher purchase price
Fill in the blank(s) with the appropriate word(s).
Cyclical unemployment is caused by
A. technological change. B. predictable shifts in production associated with different seasons. C. a dynamic economy in which people want to switch jobs sometimes. D. changes in an economy's overall condition.