Deflation refers to a:
a. decreasing relative prices.
b. decreasing price level.
c. slowing down of the rate of inflation.
d. federal government policy of running budget surpluses.
b
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Based on data from 2016, annual imports to the United States were approximately ____ and annual exports from the United States were approximately ____.
A. $0.6 trillion; $1.5 trillion B. $2.2 trillion; $0.7 trillion C. $2.9 trillion; $2.3 trillion D. $1.5 trillion; $2.0 trillion E. $2.0 trillion; $2.0 trillion
An increase in business taxes would tend to:
a. Decrease aggregate demand and decrease aggregate supply b. Increase aggregate demand and increase aggregate supply c. Increase aggregate demand and decrease aggregate supply d. Decrease aggregate demand and increase aggregate supply
Bankers must always trade off
A. honesty and dishonesty. B. stocks and loans. C. prudence and profits. D. gold and cash. E. All of these responses are correct.
The basic economic problem of ________ has always existed and will continue to exist
A) scarcity B) efficiency C) inflation D) recession