Stagflation is a combination of ________ and ________.
A. deflation; expansion
B. excessive aggregate spending; excessive aggregate supply
C. inflation; recession
D. monetary policy; fiscal policy
Answer: C
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A new U.S. tariff on imported steel would be likely to:
A. raise the cost of production to steel-using American firms. B. generate tax revenue to the government. C. increase U.S. production of steel. D. all of the above
Use the following table to answer the question below. Jorge's Production Possibilities SchedulePounds of Green BeansPounds of Corn03202024040160608080 0 If Jorge produces 20 pounds of green beans, he can produce ________ pounds of corn.
A. 160 B. 240 C. 0 D. 80
When indifference curves are bowed inward, the marginal rate of substitution is
a. the same at all points along an indifference curve. b. increasing as the consumer moves to the right along an indifference curve. c. decreasing as the consumer moves to the right along an indifference curve. d. constant.
What is the difference between insurable and uninstallable risk?
What will be an ideal response?