Which of the following is an accurate description of the U.S. inflation rate since 1950?
a. The rate has always been below 4 percent.
b. Inflation was low in the 1970s.
c. Episodes of high inflation occurred in the 1970s and early 1980s.
d. Inflation rates were very high in the 1960s.
e. Episodes of high inflation occurred in the 1990s.
C
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The smaller the MPC the ________ the expenditure multiplier and the ________ the effect of a change in expenditure on equilibrium output.
A. larger; smaller B. larger; larger C. smaller; smaller D. smaller; larger
Which of the following is likely to shift the credit demand curve of an automobile manufacturer to the right, assuming all else equal?
A) An increase in the real interest rate B) A plan to increase production and expand to newer markets C) A plan to decrease production and exit from existing markets D) A decrease in the real interest rate
Suppose a budget line is drawn between pizza, on the horizontal axis, and tacos, on the vertical axis. How does a change in the price of a pizza affect the budget line?
What will be an ideal response?
Many economists look at the Federal Budget and see that it should be broken into
A. a capital budget and an everyday budget. B. an operating budget and a capital budget. C. a defense budget and a non-defense budget. D. an operating budget and a defense budget.