A price ceiling keeps a price:
a. from rising above a certain level.
b. from decreasing below a certain level.
c. at a stabilized point.
d. from increasing or decreasing.
a. from rising above a certain level.
A price ceiling keeps a price from rising above a certain level.
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Over the last three decades in the United States, services have become a smaller fraction of GDP relative to goods
Indicate whether the statement is true or false
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
You acquire human capital by:
A. getting an education. B. investing in health care. C. gaining experience in jobs. D. All of these are true.