Economic stagnation coupled with high inflation is commonly called:
A. stagflation.
B. inflationary stagnation.
C. stagnatory growth.
D. inflagnation.
Answer: A
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If the entry of new firms in a perfectly competitive industry substantially increases the market demand for resources,
a. this reduces the market price of resources. b. this raises the market price of resources. c. the market price of resources does not change. d. this lowers the ATC curves of individual firms.
As discussed in the text, a bank can extend new loans equal to the amount by which its excess reserves increase
a. True b. False Indicate whether the statement is true or false
The Reagan tax cuts of the 1980s
A. had not impact on the budget deficit. B. decreased the budget deficit. C. increased the budget deficit. D. initially decreased the deficit but later increased it.
The Peruvian economy can be characterized by Equation 24.4.EQUATION 24.4:C = 400 + 0.6YdTaxes = 600Equilibrium Output = $4,000Refer to Equation 24.4. At equilibrium, leakages in Peru equal
A. 2,040. B. 1,560. C. 1,440. D. 960.