The data show that money growth and inflation are
A) positively correlated.
B) negatively correlated.
C) not correlated.
D) independent phenomena.
A
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What happens typically to a budget deficit during a recession?
a. It increases because of tax changes. b. It decreases because of spending decreases. c. It decreases automatically. d. It increases automatically.
The theory of efficiency wages challenges the assumption that
a. workers are efficient. b. workers have an incentive to shirk their responsibilities to their employers. c. wages must always adjust to balance labor supply and labor demand. d. firms sometimes choose to pay their workers above-equilibrium wages.
Given the budget line in the figure above, the combination of chips that is NOT affordable is
A) a. B) b. C) c. D) d.
A firm engaging in rent seeking activity
A) is breaking the law. B) is willing to spend up to the gain in producer surplus. C) is irrational. D) increases societal gain.