________: the existence of increasing inflation during a period when the economy is experiencing little or no growth
Fill in the blank(s) with correct word
Stagflation
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In a market with a price support set above the equilibrium price,
A) consumers gain. B) taxes on consumers decrease. C) marginal benefit exceeds marginal cost. D) the market is efficient. E) farmers gain.
Because Jess didn't have the time to understand the issue, she did not vote on the amendment about clean energy. Jess's behavior demonstrates the economic principle of ________
A) diminishing marginal utility B) voting preferences C) rational ignorance D) minimum differentiation
The Fed fights inflation by _______
A. lowering the federal funds rate, which lowers interest rates and de-creases aggregate demand B. raising the federal funds rate, which raises interest rates and decreases aggregate demand C. decreasing the monetary base, which raises the interest rate and in-creases saving D. lowering the long-term real interest rate, which increases investment and spurs economic growth
An economy with only a domestic sector is called:
A) a mixed economy. B) an open economy. C) a closed economy. D) a command economy.