The simultaneous occurrence of inflation and unemployment is called
a. depression
b. downturn
c. deflation
d. demand-pull inflation
e. stagflation
E
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Fiscal policy is typically
A. difficult to implement quickly. B. extremely flexible, because most government spending is discretionary. C. hard to implement despite the fact that there are not usually implementation problems. D. extremely flexible provided policy lags are short.
If a pair-wise majority vote was held, the voters' preferences are shown in the table, and Bob is setting the agenda for votes, which pair will he put up for vote first?
A. Public zoo and public parks
B. Public transportation and public zoo
C. Public parks and transportation
D. It will not matter, as it will not affect the outcome of the voting.
Answer the following statements true (T) or false (F)
1. The issue is not so much whether globalization will pressure low-income countries to reduce their environmental standards, but instead whether the threat of blocking international trade can pressure these countries into adopting stronger standards. 2. Environmental protection is vital to two industries of key importance in many low-income countries—agriculture and tourism. 3. Few nations belong to both the World Trade Organization and regional trading agreements. 4. The disruption caused by international trade is fundamentally different from all the other disruptions caused by the other workings of a market economy.
The supply of euros would come from
A. American demand for European real estate. B. European demand for U.S. government bonds. C. Americans vacationing in Barcelona, Spain. D. French supplies of wine to U.S. importers.