Which of the following, in order, describes the three steps of the demographic transition?
A. Low birthrates and death rates; high birthrates and low death rates; high birthrates and
death rates.
B. High birthrates and death rates; low birthrates and high death rates; low birthrates and
death rates.
C. High birthrates and low death rates; high birthrates and death rates; low birthrates and
death rates.
D. High birthrates and death rates; high birthrates and low death rates; low birthrates and
death rates.
Answer: D
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Irrespective of whether the inflation rate is high or low, if the inflation rate is above the expected level, the unemployment rate in the economy will remain stable
a. True b. False Indicate whether the statement is true or false
What stage of the business cycle immediately follows the trough?
a. Recession b. Peak c. Depression d. Recovery
Deciding what the distribution of income should be is an example of normative economics.
Answer the following statement true (T) or false (F)
If inflation is both high and volatile:
A. nominal interest rates will also be high and volatile since real interest rates are stable. B. lenders may be unwilling to lend out of fear of unexpected increases in inflation. C. real interest rates will also be high and volatile since nominal interest rates are stable. D. borrowers may be unwilling to borrow out of fear of unexpected increases in inflation.