From 2001 to 2015, the annual rate of inflation in the United States has averaged less than 1 percent.
Answer the following statement true (T) or false (F)
False
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If buyers expect prices to ________ faster than the interest rate, it makes sense to _____ as much money as possible to _____ now in order to ______ in the future
a. Increase; borrow; buy; sell b. increase; save; buy; sell c. decrease; save; buy; sell d. decrease; borrow; sell; buy
Sally's Salon sells haircuts in a perfectly competitive market. As the salon hires additional workers, the marginal revenue product of labor
a. rises whenever the marginal product of labor falls b. is equal to the market price of haircuts c. falls whenever the marginal product of labor falls d. varies only if the market price of haircuts varies e. remains constant
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
All of the following are examples of macroeconomic problems EXCEPT
A. consumers deciding to buy more fish and less beef because of concerns about a healthier diet. B. a decline in the rate of overall economic growth. C. unemployment caused by a fall off in the level of residential construction. D. inflationary pressures caused by an increase in the cost of petroleum.