Which of the following is a desirable characteristic in an economy?
A. high inflation
B. low unemployment
C. rapid increase in the general price level
D. low employment
Answer: B
You might also like to view...
The inflation-reduction episode of the early 1980s was an example of an
A) expected inflation reduction fiscal policy by Congress. B) unexpected inflation reduction by the Fed. C) unexpected inflation reduction fiscal policy by Congress. D) unexpected inflation reduction by the Fed combined with an expected inflation reduction fiscal policy by Congress. E) expected inflation reduction by the Fed.
A theory is an abstraction used often by economists to
a. describe a problem. b. keep all assumptions in their proper places. c. explain why things work the way they do. d. describe a hierarchical ordering of facts. e. arrange variables into a graphical format.
New technological advancements, such as robots are
a. harmful because they put people out of work. b. helpful because they improve worker productivity. c. harmful because robots are likely to have electrical problems which could cause injuries to people. d. both a and c above.
The long-run Phillips Curve indicates that macroeconomic policies are effective in increasing output and keeping prices stable in the economy
Indicate whether the statement is true or false