Cost-push inflation might initially result from
A) the use of new technology.
B) a decrease in the quantity of money.
C) an increase in the cost of resources.
D) an increase in the quantity of money.
E) an increase in government expenditure.
C
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The short-run Phillips Curve is ________, and the long-run Phillips Curve is ________.
A. upward sloping; vertical B. downward sloping; horizontal C. downward sloping; vertical D. upward sloping; horizontal
The expression "Let bygones be bygones" is associated with what type of cost?
Which of the following measurement issues makes interpretation of U.S. poverty rates difficult?
A. Poverty statistics measure consumption rather than income, and some families may receive income that is above the official poverty line. B. The high cost of living in urban areas tends to result in the understatement of poverty. C. Most people below the poverty line have substantial unreported income. D. The poverty rate is adjusted for every urban and rural area, so people's poverty status changes whenever they move.
If the prices of financial assets follow a random walk, then
A) they should be easy to forecast, provided market participants have rational expectations. B) they should be easy to forecast, provided market participants have adaptive expectations. C) the change in price from one trading period to the next is not predictable. D) major traders in the market must not be making use of all available information about the assets.