Inflation caused by continually decreasing short-run aggregate supply is
A. cost-push inflation.
B. demand-pull inflation.
C. demand-push inflation.
D. cost-pull inflation.
Answer: A
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Someone can become an inefficient producer of a particular good by becoming an extremely potent producer of some other good
A) if efficiency and inefficiency are not calculated in terms of opportunity costs. B) if efficiency is measured in terms of labor hours required to produce each good. C) if a larger output of one good entails a smaller output of the other. D) if the demand for one of the goods declines.
An example of the problem of ________ is when a corporation uses the funds raised from selling bonds to fund corporate expansion to pay for Caribbean cruises for all of its employees and their families
A) adverse selection B) moral hazard C) risk sharing D) credit risk
In order to eliminate unnecessary details and highlight the essential features of an economic model, an economist makes
a. critical assumptions b. macroeconomic assumptions c. normative assumptions d. positive assumptions e. simplifying assumptions
Where would a country such as Japan get U.S. dollars in order to engage in managed float?
a. It would print them. b. It would use its reserve of dollars. c. It would sell yen on the open market in exchange for U.S. dollars. d. Since Japan's currency is the yen, it would not be able to obtain U.S. dollars. e. It would borrow U.S. dollars form the U.S.