Stagflation is the result of
A. A decrease in aggregate supply.
B. A decrease in aggregate demand.
C. An increase in aggregate supply.
D. An increase in aggregate demand.
Answer: A
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Because of the free-rider problem, ________
A) there is an efficient allocation of resources for common resources B) private provision leads to the production of more than the efficient quantity of a public good C) private provision leads to the production of less than the efficient quantity of a public good D) the public uses too little of a common resource
In the monetary small open-economy model with a flexible exchange rate, an increase in the domestic price level has which impact on domestic money demand?
A) It increases it. B) It decreases it. C) It has no impact. D) It depends.
The 1960s are remembered by most economists as a period of
a. very high rates of inflation. b. very high rates of unemployment. c. price controls and low inflation. d. noninflationary growth. e. all of the above.
The Japanese yen is an example of a soft currency.
a. true b. false