An economy has a current inflation rate of 7%. If the central bank wants to reduce inflation to 4% and the sacrifice ratio is 2, then how much annual output must be sacrificed in the transition?
a. 10%
b. 8%
c. 6%
d. None of the above is correct.
c
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Given the information in Scenario 4.3, erasers and good b, are:
A) substitutes. B) complements. C) completely unrelated. D) normal. E) inferior.
When a player in a game adopts a strategy which always yields the highest benefit regardless of what the other player does, that player is using a(n)
A) opportunistic strategy. B) dominant strategy. C) tit-for-tat strategy. D) aggressive strategy.
Refer to the table below. Marginal product is largest for the:
The question is based on the following table that provides information on the production of a product that requires one variable input.
A. Second unit of variable input
B. Third unit of variable input
C. Seventh unit of variable input
D. Ninth unit of variable input
The two largest economies in the world in 2012 were:
A. China and the U.S. B. Japan and the U.S. C. England and the U.S. D. China and Germany.