Disinflation refers to
A) a rapid increase in the price level. B) a decrease in the price level.
C) a reduction in the rate of inflation. D) an increase in the rate of inflation.
C
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If the economy has a natural unemployment rate of 4 percent and potential GDP of $5 trillion, what will be real GDP according to Okun's Law if the unemployment rate rises to 5 percent?
What will be an ideal response?
In the figure above, potential GDP equals
A) $15.5 trillion. B) $16.0 trillion. C) $16.5 trillion. D) None of the above answers is correct.
Using the above table, what is the opportunity cost of moving from alternative C to alternative B?
A) 1/2 a pizza pie B) 60 pizza pies C) 90 pizza pies D) 30 pizza pies
A large number of businesses are organized as sole proprietorships because it is easy for them to acquire large sums of financing
a. True b. False