A combination of declining real GDP and rising price level is referred to as
A) a trough.
B) deflation.
C) stagflation.
D) a depression.
E) an expansion.
C
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As society is near total pollution abatement
A) the marginal cost to society falls. B) the marginal cost to society rises. C) the marginal cost to society equals the marginal benefit to society. D) the marginal cost to society falls but then rises.
Everything else held constant, a monetary expansion is characterized by ________ output and ________ interest rates
A) rising; rising B) rising; falling C) falling; rising D) falling; falling
Suzy spends all of her income on potato chips and textbooks. To maximize her total utility, she should
a. allocate her income so that the marginal utilities of potato chips and textbooks are equal b. allocate her income so that the marginal utilities per dollar spent on potato chips and textbooks are equal c. change her eating habits d. choose a consumption point that is inside her budget constraint e. allocate her income so that the total utilities of potato chips and textbooks are equal
Stagflation may follow an inflationary boom.
Answer the following statement true (T) or false (F)