An economy suffering from high inflation despite low economic growth and high unemployment is experiencing:
A. stagflation.
B. an economic boom.
C. an economic downturn.
D. hyperinflation.
A. stagflation.
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Expected value is
a. (Probability of state A+Value in state A) (Probability of state B+Value in state B) b. (Probability of state AValue in state A)+(Probability of state BValue in state B) c. (Probability of state AValue in state A)-(Probability of state BValue in state B) d. (Probability of state A-Value in state A) (Probability of state B-Value in state B)
If the price of bonds rises,
a. the Fed will decrease the money supply b. the Fed will increase the money supply c. the interest rate will rise d. the interest rate will fall e. inflation must be accelerating
The opportunity cost of producing a dining room table refers to the
a. quantity of money required to produce the table b. quantity of money required to buy the table c. quantity of other goods that must be given up to produce the table d. quality of the table e. use of lumber to produce the table
Karen, Tara, and Chelsea each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and paperback novels cost $8 each. Karen has a budget of $80, Tara has a budget of $60, and Chelsea has a budget of $40 to spend on ice cream and paperback novels. Who can afford to purchase 5 gallons of ice cream and 8 paperback novels?
a. Karen, Tara, and Chelsea b. Karen only c. Tara and Chelsea but not Karen d. none of the women