Inflation is caused when
A. high rates of unemployment prevent consumers from buying goods.
B. supply and demand for goods and services achieve near balance.
C. taxes are raised too high.
D. supply cannot keep pace with demand for goods and services.
E. the government artificially curbs demand for goods and services.
Answer: D
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Which of the following is trueof sales tax?
A. The sales tax is the most important source of local revenue. B. State sales tax on most retail goods is referred to as excise tax. C. The general sales tax is set at a much higher rate than the specific sales tax. D. State sales tax on specific items is referred to as general sales tax. E. Every state, even those without a general sales tax, imposes selective sales taxes on some items.
Economic experts officially declared a recession
A) during the 2000 presidential election. B) in 1999. C) in March 2001. D) toward the end of President Clinton's first term. E) when the economic growth rate dipped below 3 percent.
Radio became widely available during the ________.
Fill in the blank(s) with the appropriate word(s).
Two-thirds of the states elect governors ________
A. in the year following a presidential election year B. in presidential midterm years C. in the same year as presidential election year D. in the year preceding the presidential election year E. during odd years