Stagflation is a contraction, or stagnation, of a nation's output accompanied by inflation in the price level
Indicate whether the statement is true or false
true
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The fishing and whaling occupations in the early colonies:
a. never amounted to a significant economic force. b. were a major influence in the early colonial economy. c. started only in the eighteenth century. d. were mixed in their economic impact, with fishing being the least important and whaling being most important.
Which of the following is an example of product differentiation based on the physical aspects of a product?
a. A fashion designer advertising the new comfortable design of its apparels b. A housing construction company offering low-interest bank loans for purchasing its apartments c. A car mechanic opening his new workshop near a busy highway d. An electronic company offering a warranty of 5 years for its air conditioners
Which of the following lists two things that both increase the money supply?
a. raise the discount rate and make open market purchases b. raise the discount rate and make open market sales c. lower the discount rate and make open market purchases d. lower the discount rate and make open market sales
Exhibit 8-2 Consumption function
As shown in Exhibit 8-2, autonomous consumption is:
A. 0. B. $2 trillion. C. $4 trillion. D. $6 trillion.