In the 1970s and early 1980s, the U.S. economy experienced
A) stagflation.
B) low inflation and low unemployment.
C) high inflation and low unemployment.
D) high inflation and high unemployment.
E) a and d
E
You might also like to view...
If the quantity of money supplied ________ the quantity demanded, in the long run the value of money ________
A) is less than; does not change unless the Fed increases the money supply B) exceeds; falls as people spend their surplus money C) is less than; falls as people spend their surplus money D) exceeds; rises as people buy bonds E) equals; equals zero
How does a negative externality in production reduce economic efficiency?
What will be an ideal response?
A collusion breaks down if ________
A) a firm charges a price higher than the price set by the other colluding firms B) a firm charges a price lower than the price set by the other colluding firms C) the price set by the colluding firms equals the marginal cost of production D) the price set by the colluding firms exceeds the marginal cost of production
A ________ is a plan by one firm to price a good at marginal cost forever if the other cheats on an agreement
A) pure strategy B) grim strategy C) patent D) collusion