When OPEC raised the price of oil, it created a:
a. demand-pull inflation.
b. cost-push inflation.
c. demand-push inflation.
d. cost-pull inflation.
e. cost-push deflation.
b
You might also like to view...
Suppose Cathy and Lewis work in a bakery making pies and cakes. Suppose it takes Cathy 1.5 hours to make a pie and 1 hour to make a cake, and suppose it takes Lewis 2 hours to make a pie and 1.5 hours to make a cake. Which of the following statements is correct?
A. Lewis should specialize in pies, and Cathy should specialize in cakes. B. Cathy should specialize in pies, and Lewis should specialize in cakes. C. Cathy should specialize in both pies and cakes. D. There are no gains from specialization and trade.
Figure 10-18
As shown in , the economy's point of short-run equilibrium, given by the shift of the aggregate demand curve from AD1 to AD2, is
a.
E1.
b.
E2.
c.
E3.
d.
unable to be determined.
State and briefly explain whether or not the empirical evidence generally supports the belief that there is a fixed trade-off between unemployment and inflation, such that monetary policymakers can achieve the combination they prefer
What will be an ideal response?
The ratio of non-performing loans to total loans is a measure of a bank's __________ risk
A) credit B) leverage C) interest rate D) liquidity