The OPEC-designed oil price increases caused the cost of producing almost everything in our economy to increase, resulting in
a. demand-pull inflation
b. cost-push inflation
c. deflation
d. depression
e. increased leveraged buyouts
B
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Which of the following is NOT related to the slope of isoquants?
A) The fact that inputs have positive marginal product B) The fact that inputs have diminishing marginal product C) The fact that input prices are positive D) The fact that more of either input increases output E) The fact that there are diminishing returns to inputs
An increase in the money supply
a. reduces interest rates and shifts aggregate demand to the right. b. reduces interest rates and shifts aggregate supply to the right c. raises interest rates and shifts aggregate demand to the right. d. raises interest rates and shifts aggregate supply to the right.
Suppose that the bond market and the money market both start out in equilibrium, then the Federal Reserve increases the money supply. The result will be a ______________ in the money market and a _________________ in the bond market, which will push bond prices _________________ and interest rates will ___________________ until a new equilibrium is reached
A) surplus; shortage; up; fall B) shortage; surplus; down; rise C) surplus; shortage; down; rise D) shortage; surplus; down; fall
Public goods, when left to the private market will be:
A. oversupplied. B. overconsumed. C. underconsumed. D. undersupplied.