An increase in the overall price level that continues over a significant period of time is
A. high inflation.
B. sustained recovery.
C. super inflation.
D. sustained inflation.
Answer: D
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The quantity of U.S. exports is determined by
A) U.S. consumption expenditure. B) political factors. C) aggregate incomes in the rest of the world. D) U.S. aggregate expenditure. E) U.S. GDP.
Assume the firms in a monopolistically competitive market are currently incurring economic losses
Because they are price searchers, existing firms will raise their prices until the losses are eliminated and each firm is once again earning zero economic profit. Indicate whether the statement is true or false
The above figure shows the market for rice in Japan where price is expressed in dollars. S represents the domestic supply curve, and the horizontal line at P = $1 represents the world supply curve
If a $1 tariff is imposed on imported rice, the loss in social welfare is A) b + c + d + e. B) a. C) i. D) a + c + d + e.
Table 14.3Monetary Aggregates of the U.S. Financial SystemItemAmountCash held by public$40 billionTransactions deposits$80 billionRequired reserves$20 billionExcess reserves$0 billionU.S. bonds held by public$125 billionAssume an original balance sheet: The money supply (M1) in Table 14.3 is
A. $20 billion. B. $80 billion. C. $40 billion. D. $120 billion.