For an economy to experience both a recession and inflation at the same time
A. the aggregate demand curve must shift to the left.
B. the aggregate supply curve must shift to the right.
C. the aggregate supply curve must shift to the left.
D. the aggregate demand curve must shift to the right.
Answer: C
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What are the main features of the Harris-Todaro model of rural-urban migration?
What will be an ideal response?
In a cartel, participating members can cheat by
A) letting more entrants join the cartel. B) leaving the industry. C) producing a lower production level than the cartel quota. D) charging a slightly lower price and raising production.
If an accountant makes $80,000 and after deductions pays $8,000 in taxes while an administrative assistant makes $35,000 and after deductions pays $2,000 in taxes, this is an example of
A. Vertical equity. B. Effective inequity. C. Marginal inequity. D. Horizontal equity.
"Equality of opportunities is more important than equality of incomes.". This statement would be most likely attributed to which political philosophy?
a. utilitarianism b. liberalism c. libertarianism d. welfarism