In the second half of the twentieth century, the U.S. inflation rate was at its highest in the period from
A) 1960 to the early 1970s.
B) the mid-1970s to the early 1980s.
C) the mid-1980s to the early 1990s.
D) 1990-2000.
B
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Alfred derives utility from consuming iced tea and lemonade. For the bundle he currently consumes, the marginal utility he receives from iced tea is 16 utils, and the marginal utility he receives from lemonade is 8 utils
Instead of consuming this bundle, Alfred should: A) buy more iced tea and less lemonade. B) buy more lemonade and less iced tea. C) buy more iced tea and lemonade. D) buy less iced tea and lemonade. E) none of the above is necessarily correct.
If 1 U.S. dollar exchanges for 7.89 South African rand, how much would it cost in rand to purchase a Dell P.C. priced at $795?
What will be an ideal response?
Refer to the above graph, which shows an aggregate demand curve for a hypothetical economy. If the price level is 200, the quantity of real GDP demanded is:
A. $600 billion. B. $700 billion. C. $500 billion. D. $800 billion.
If a firm is a price-taker, it can
What will be an ideal response?