Stagflation refers to:
A. an increase in inflation accompanied by decreases in real output and employment.
B. a decline in the price level accompanied by increases in real output and employment.
C. a simultaneous increase in real output and the price level.
D. a simultaneous reduction in real output and the price level.
A. an increase in inflation accompanied by decreases in real output and employment.
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The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. The expenditure multiplier is equal to
A) 1.25. B) 10. C) 0.8. D) 2. E) 5.
In the new Keynesian model, a positive, permanent supply shock will result in ________
A) an increase in aggregate demand B) a decrease in aggregate demand C) no change in aggregate demand D) a change in aggregate demand, only if the shock is anticipated
When a country specializes and trades with other countries, it is most likely that it specializes in goods for which
A) it has a comparative advantage. B) it has an absolute advantage. C) it has no advantage. D) are very costly to produce.
Briefly explain why the same job in the United States that is done with robots may be done by hand in a rural African country.
What will be an ideal response?