The term “stagflation” was invented in the 1970s to describe an economy experiencing both
A. deflation and economic stagnation.
B. inflation and economic stagnation.
C. high inflation and high employment.
D. high inflation and high levels of economic growth.
Answer: B
You might also like to view...
Which of the following is the most important source of revenue for the federal budget?
A. The corporate income tax. B. Social Security and unemployment taxes. C. The federal personal income tax. D. Sales tax.
What is the aggregate demand curve and what does it represent?
What will be an ideal response?
The process of building up capital includes
a. acquiring funds from banks and other sources. b. use of borrowed funds to hire inputs to build factories, warehouses, etc. c. completion of the investment process by adding machinery and inventory. d. All of the above are correct.
Which of the following is true of marginal revenue for a monopolist that charges a single price?
a. P=MR because there are no close substitutes for the monopolist's product.
b. P>MR because the monopolist must decrease price on all units sold in order to sell an additional unit.
c. P