When governments rapidly increase the supply of money, the usual result is
a. deflation.
b. low inflation.
c. hyperinflation.
d. increasing long-term investment.
c
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Stagflation consists of
A) high inflation and low unemployment. B) low inflation and high unemployment. C) high inflation and high unemployment. D) high unemployment and an economy in a deep recession. E) none of the above
Which of the following products has the most elastic demand?
A. Ben and Jerry's Chunky Monkey ice cream in the pint container B. all Ben and Jerry's ice cream C. all premium ice cream D. all ice cream
Which of the following statements is true of the process of colonization?
A) Institutions in North America were set up by Europeans. B) Europeans set up similar institutions around the world. C) Residents in all colonies had similar property rights. D) It was characterized by the absence of slavery.
When 1983 is the CPI base year, the CPI value is 82.4 for 1980 and 172.2 for 2000. Suppose we want to convert this CPI series to have a base year of 2000 (that is, CPI2000 = 100). What is the value of the revised CPI for 1980?
A) 172.2 B) 100 C) 47.9 D) 209.0