Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation.
B. low economic growth and high inflation.
C. high economic growth and low inflation.
D. low economic growth and low inflation.
Answer: B
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Earth Movers & Shakers operates 3 iron ore mines. The table below shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total TonsPer DayNumber ofMinersMother Lode10025Scraping Bottom3010Middle Drift7515The opportunity cost of moving one miner from Mother Lode to another mine is:
A. 4 tons per day. B. 1 ton per day. C. 2 tons per day. D. 3 tons per day.
Which of the following appears on the liability side of the Fed's balance sheet?
a. Federal Reserve notes. b. U.S. government securities. c. Loans to banks. d. All of these.
Marginal willingness to pay a. rises as greater quantities are consumed
b. falls as greater quantities are consumed. c. stays the same as greater quantities are consumed. d. none of the above
An increase in the Marginal Propensity to Save will:
(a) Increase the size of the multiplier. (b) Increase the marginal propensity to consume. (c) Decrease the size of the multiplier. (d) Increase injections into the economy.