Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation.
B. low economic growth and high inflation.
C. high economic growth and low inflation.
D. low economic growth and low inflation.
Answer: B
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Price coordination among firms will be more difficult when there are substantial differences among the cost structures of the competing firms and the technologies they employ
Indicate whether the statement is true or false
How much would the firm make in revenue if it prices both its products successfully?
a. $110 b. $120 c. $130 d. $140
Long-run economic profits are possible in which of the following market structures?
A. Oligopoly and monopoly B. Monopolistic competition C. Perfect competition D. Only monopoly
A fixed exchange rate system crisis may be accompanied or followed by
A) unexpected gains of international reserves. B) revaluation of a currency. C) devaluation of a currency. D) gains in comparative advantage. E) deflationary pressures within the country.