To combat inflation, Congress and the president should
A) increase transfer payments. B) decrease taxes.
C) decrease government spending. D) raise interest rates.
C
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Explain the difference between the GDP deflator and the Consumer Price Index
What will be an ideal response?
Compared to regular grocery stores, convenience stores have
a. higher prices and a more limited selection of goods b. higher prices and a greater selection of goods c. lower prices and a more limited selection of goods d. lower prices and a greater selection of goods e. equal prices and an equal selection of goods
Negative net exports means that
What will be an ideal response?
Assume Belgium can produce 5 units of good X or 2 units of good Y. Germany can produce 4 units of good X or 3 units of good Y. What would be the terms of trade between Belgium and Germany for 1 unit of good Y?
A. Between 4/3 and 5/2 units of X. B. Between 4/3 and 5 units of X. C. Between 4 and 5 units of X. D. Between 5/2 and 4 units of X.