Which of the following is not a characteristic of cost-push inflation?
A. Falling unemployment
B. Falling real output
C. Automatically self-limiting
D. Rising general price level
Answer: A
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When resources are assigned to inappropriate tasks, that is, tasks for which they are not the best match, the result will be producing at a point
A) where the slope of the PPF is positive. B) where the slope of the PPF is zero. C) inside the PPF. D) outside the PPF.
________ in the expected future domestic exchange rate causes the demand for domestic assets to ________ and the domestic currency to depreciate, everything else held constant
A) An increase; increase B) An increase; decrease C) A decrease; increase D) A decrease; decrease
Suppose the market-clearing price of milk is $3.00 per gallon, but the diary industry persuades the government to establish a legally-mandated price support at $4.00 per gallon. The newly legislated price tends to
A) reduce the demand for milk. B) increase the production of milk. C) create a shortage of milk. D) decrease the price of milk products.
Refer to Figure 4-6. What area represents the deadweight loss at P2?
A) G + H B) C + E C) B + C D) C + E + H