During a period of rapid economic expansion an economy might experience
A. increased transfer payments.
B. reduced tax revenues.
C. demand-pull inflation.
D. low levels of employment.
Answer: C
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Printing money was the main method the Union government used to finance the Civil War (1861–1865), and as a result the money supply in the North rose by a factor of 4
Indicate whether the statement is true or false
When government action is justified based on the argument that everyone agrees to be coerced _____
a. we cannot be sure that everyone is in favor of the action b. the same justification is true of market exchange c. we can be sure that the current state of affair is Pareto efficient d. the private interest becomes the public interest
Union membership rates in the U.S. are
a. highest among government employees b. highest among industrial sector employees c. highest among service sector employees d. increasing at a faster rate than the labor force e. highest among women
The expected marginal benefit to you from purchasing a new sport utility vehicle is $20,000 . The price of the new sport utility vehicle is $22,000. a. If you are acting rationally, you will borrow $2,000 and purchase a new sport utility vehicle
b. You will not purchase the new sport utility vehicle at this time if you are acting rationally. c. If you do not purchase the new sport utility vehicle, your net loss will be $2,000. d. If you are acting rationally, you will purchase sport utility vehicles until the marginal cost of doing so falls to $20,000.