Economic stagnation coupled with high inflation is commonly called:
A. stagflation.
B. inflationary stagnation.
C. stagnatory growth.
D. inflagnation.
Answer: A
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In practice, turning horizontal and vertical equity into tax law
A. hasn’t been tried. B. has been fairly easy. C. is resisted by nearly all taxpayers. D. has been extremely difficult.
Money market mutual funds sell shares to investors and use the money to buy
A) overseas assets through foreign direct investment. B) short-term securities. C) foreign currency. D) mortgage-backed securities.
An organization that converts inputs (like Labor, Capital etc.) into output is called a
A) firm. B) sole proprietorship. C) corporation. D) All of the above.
Refer to Table 10.2. If the price of output is $10 per unit, the marginal revenue product of the third unit of labor is:
A. $50. B. $60. C. $500. D. $600.