Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation.
B. low economic growth and high inflation.
C. high economic growth and low inflation.
D. low economic growth and low inflation.
Answer: B
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If a particular choice that an individual faces gives him a benefit of $20 but costs $30, the net benefit from making this choice equals:
A) $20. B) $10. C) -$10. D) -$30.
The data in the above table indicate that the economy will be in a short-run macroeconomic equilibrium at a price level
A) between 130 and 121. B) between 119 and 111. C) of 120. D) of 110.
Which of the following would be a deadweight loss from a tariff?
A) The shift of consumer surplus to government B) The increase in producer surplus C) The decrease in consumer surplus D) The decrease in consumer surplus due to a drop in consumption E) All of the above.
McDonalds kept its U.S.-based menu when entering the Chinese market
Indicate whether the statement is true or false