Stagflation means a
A. low rate of inflation coupled with a rate of unemployment below the natural rate.
B. low rate of inflation coupled with a very high rate of unemployment.
C. high rate of inflation coupled with a very low rate of unemployment.
D. high rate of inflation coupled with a high rate of unemployment.
Answer: D
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According to your textbook, which procedure is the general rule to follow in order to maximize net revenue?
A) Always choose a 25 percent markup if demand is inelastic. B) Always choose a 25 percent markup if demand is elastic. C) Always choose a markup between 50 and 100 percent (inclusively) if demand in inelastic. D) Always choose no more than a 10 percent markup if demand is perfectly elastic. E) None of the above.
Which of the following about inventory changes and GDP is true?
a. Inventory investment adds to GDP because it represents goods produced during the current period. b. Inventory investment is subtracted from GDP because the goods were not sold during the period. c. Inventory investment does not affect GDP because the goods were not sold during the period. d. Inventory investment does not affect GDP because it does not represent goods produced during the period.
The nominal wage represents _____
Fill in the blank(s) with the appropriate word(s).
The marginal utility of the first smoothie that Jimmy drinks in the morning is worth $3.00. The marginal utility of the 4th smoothie he drinks is positive while the marginal utility of the 5th smoothie he drinks in the morning is worth $0. This implies that at a price of $0, Jimmy would drink
A. at most 5 smoothies per morning. B. an infinite number of smoothies each morning. C. more than 5 smoothies per morning, but the actual number is indeterminate from this information. D. zero smoothies per morning.