Which one of the following statements about the United States is true?
A. The United States has experienced inflation every year since 1800.
B. Prior to World War II, the United States experienced deflation virtually every year; since World War II, the United States has consistently experienced inflation.
C. Prior to World War II, the United States experienced periods of both deflation and inflation.
D. Since World War II, the United States has experienced deflation.
Answer: C
You might also like to view...
The type of unemployment for which the net economic costs are most likely to be small is
A) cyclical unemployment. B) chronic unemployment. C) frictional unemployment. D) structural unemployment.
If the labor force grows at a faster rate than the number employed, the
What will be an ideal response?
Constant returns to scale exist when long-run average costs:
A. decrease as output is increased. B. increase as output is increased. C. remain constant as output is increased. D. None of the statements is correct.
Supply-side economists encourage government to reduce taxes, deregulate, and increase spending on research and development because they think that these types of policies lead to greater long-run economic growth
a. True b. False Indicate whether the statement is true or false