Waste produced by a power plant that harms local fishing industries is an example of a:
A. demerit good.
B. limited liability.
C. negative externality.
D. private good.
Answer: C
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If aggregate demand decreases, the
A) short-run Phillips curve shifts rightward. B) economy moves to a higher inflation rate along its short-run Phillips curve. C) short-run Phillips curve does not shift nor is there a movement along it. D) short-run Phillips curve shifts leftward. E) economy moves to a lower inflation rate along its short-run Phillips curve.
Nominal gross domestic product is based on:
a. the existing prices at which final goods and services are actually sold. b. prices of final goods and services adjusted for inflation. c. prices at which intermediate goods are sold. d. none of these.
The price index was 120 in 2012 and 126 in 2013 . What was the inflation rate?
a. 5.0 percent b. 6.0 percent c. 7.2 percent d. 105 percent
The figure below shows free public schooling leading to less education.
A. True
B. False
C. Uncertain