In spite of the fact that unemployment rates were at a 30-year low in 1996-2000 . the United States economy also experienced
a. declining inflation.
b. balance of payments surpluses.
c. large budget deficits.
d. low growth.
a
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How does the elasticity of demand influence the incidence of a tax, the tax revenue, and the deadweight loss?
What will be an ideal response?
Inflation can occur under conditions of full employment
A) only if the central bank continues to inject money into the economy and the agents' expectations of inflation are supported by the bank's activities. B) only if the central bank continues to inject money into the economy. C) only if the central bank continues to withdraw money from the economy. D) only if the central bank continues to inject money into the economy and all agents expect that inflation will not occur. E) only if the central bank fails to inject money into the economy.
Because they combine high yield and high risk, junk bonds
A) should never be considered sound investments. B) may increase the overall yield of a portfolio containing stocks without an undue increase in risk. C) should be purchased only by risk lovers. D) None of the above.
Suppose you go to a wedding reception that has free drinks. What is likely to be the marginal utility of the last drink you had?
a. infinite b. 0 c. 1 d. less than 0 e. greater than 1