Inflation is a sustained rise in the general price level.
Answer the following statement true (T) or false (F)
True
See definition of inflation in the textbook.
You might also like to view...
In 2010 the family mean income of householders aged 15-24 years was approximately
A) $11,000. B) $21,000. C) $31,000. D) $41,000. E) $51,000.
When demand is unit elastic, a change in price causes total revenue to stay the same because
A) the change in profit is offset by the change in production cost. B) buyers are buying the same quantity. C) total revenue never changes with price changes. D) the percentage change in quantity demanded exactly offsets the percentage change in price.
Explain the problems that necessitate insurance management, and three methods insurance companies use to address these problems. Identify the problem that each practice addresses
What will be an ideal response?
A monopoly which arises from significant economies of scale is referred to as a
A) monopolistic competitor. B) strategic resource monopoly. C) natural monopoly. D) patent monopoly.