Stagflation occurs when inflation ________ and GDP ________
A) rises; rises
B) rises; falls
C) falls; rises
D) falls; falls
Answer: B
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Each regional Federal Reserve Bank is owned by
A) the member banks in its district. B) the Federal Deposit Insurance Corporation. C) those who purchase its stock on the open market. D) the taxpayers in its district.
Assume the total utilities corresponding to the first four units of a product consumed are 8, 12, 14, 15, respectively. The marginal utility of the third unit consumed is:
a. 2. b. 14. c. 3 d. 34.
Production inefficiency is most likely to occur when the principal has more information about work performance than the agent does
Indicate whether the statement is true or false
Refer to Scenario 12.1. What will be the price in the long run if the industry is a Cournot duopoly?
A) $400 B) $600 C) $800 D) $900 E) Competition will drive the price to zero.