The expansionary monetary and fiscal policies of the 1960s resulted in ________ inflation rates and ________ rates of unemployment
A) high; high B) low; high C) high; low D) low; low
C
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Which of the following is not a necessary characteristic of a perfectly competitive industry?
A. The industry or market demand is highly elastic. B. Consumers see no difference between the product of one firm and that of another. C. There are so many firms that none can influence market price. D. Firms can easily enter or exit the industry.
Consider an economy where the growth rate of money supply is 2% and the inflation rate is 2%. If the quantity theory of money holds, the growth rate of real GDP in the economy will be:
A) 2%. B) 4%. C) 1%. D) 0%.
The higher the number of people who have access to e-mail, the more valuable it is to everyone. This is an example of a(n) ________
A) moral hazard B) adverse selection C) network externality D) negative externality
In the figure above, with international trade U.S. companies buy ________ helicopters per year
A) 240 B) 480 C) 720 D) 360