Which was a decade of high inflation and high unemployment?
A. the 1920s
B. the 1950s
C. the 1960s
D. the 1970s
D. the 1970s
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As a falling price eliminates a surplus in the jersey market,
A) the demand curve for jerseys shifts leftward, and the supply curve of jerseys shifts rightward. B) consumers increase the quantity of jerseys they demand. C) producers increase the quantity of jerseys they supply. D) producers decrease the quantity of jerseys they supply, and buyers decrease the quantity of jerseys they demand. E) the demand curve for jerseys shifts rightward, and the supply curve of jerseys shifts leftward.
If the (average) tax rate is cut by 10%, and as a result the tax base rises by 15%, tax revenues will rise
Indicate whether the statement is true or false
The ability of a country to produce a good or service at a lower cost than its trading partners is
A. its absolute advantage. B. its comparative advantage. C. both its absolute and comparative advantage. D. neither its absolute nor its comparative advantage.
The national debt is ____ of the United States government and ___ of the people who hold it.
A. an asset; an asset B. a liability; a liability C. an asset; a liability D. a liability; an asset