A situation in which output decreases while prices increase is often referred to as:
A. inflation.
B. negative economic growth.
C. a recession.
D. stagflation.
Answer: D
You might also like to view...
Use the following table to answer the question below.Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of corn. If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake sells Jane 72 pounds of corn after specialization, then Jane consumes ________ pounds of green beans and ________ pounds of corn.
A. 56, 72 B. 88, 24 C. 72, 56 D. 24, 88
A 20 percent increase in the quantity of pizza demanded results from a 10 percent decline in its price. The price elasticity of demand for pizza is
A) 0.5. B) 2.0. C) 10.0. D) 20.0.
To earn a higher return on the assets in the Social Security trust fund, a suggestion has been made to allow the trust fund to
A. sell limited partnerships. B. invest in the stock market. C. buy government bonds. D. sell insurance.
Since housing generally represents a large part of most household budget, the elasticity of demand for housing is likely to be large.
Answer the following statement true (T) or false (F)