According to the historical record of inflation since the 1300s, the inflation rate
A) became highest in the twentieth century.
B) was at its lowest after Columbus arrived to America.
C) was at its highest during the Industrial Revolution.
D) has always been consistently high.
E) was higher in the 1300s than in the 1900s.
A
You might also like to view...
According to supply-side economics, changes in marginal tax rates will have which of the following effects?
A) change the incentive to work B) change the incentive to save C) change the incentive to invest D) all of the above
Budget constraints exist for consumers because
a. their utility from consuming goods eventually reaches a maximum level b. even with unlimited incomes, they have to pay for each good they consume c. they have to pay for goods and they have limited incomes d. prices and income are inversely related e. demand curves for goods generally slope downward
A sunk cost is one that
a. changes as the level of output changes in the short run b. was paid in the past and will not change regardless of later decisions c. should determine the rational course of action in the future d. has the most impact on profit-maximizing decisions e. influences rational decision makers
Goods produced for the purpose of producing other goods are known as
A. Services. B. Consumption goods. C. Investment goods. D. Exports.