Stagflation is the simultaneous occurrence of substantial unemployment and inflation.
Answer the following statement true (T) or false (F)
True
In the 1970s the U.S. economy experienced stagflation, in which the price level increased while the economy entered recession.
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What is the marginal propensity to consume (MPC) and why is it important in predicting consumer behavior?
What will be an ideal response?
Compared to other high-income countries, health care spending per person in the United States has been
A) declining at a faster rate. B) declining at approximately the same rate. C) growing at a faster rate. D) growing at approximately the same rate.
The price elasticity of demand for a rental home in Luxury Resorts in the summer is 1.25 and is 2.25 in the spring. If Luxury Resorts faces a constant marginal cost of $500 per home rental, what is the profit-maximizing peak-load price to charge in the summer?
A) $1,250 B) $5,000 C) $900 D) $2,500
A data set is a balanced panel if it _____.
A. consists of a sample of individuals, households, firms, cities, states, countries, or a variety of other units, taken at a given point in time B. consists of observations on a variable or several variables over time C. consists of data for each cross sectional units over the same time period D. consists of time-demeaned data for different cross sectional units