An anti-inflation policy that involves announcing and executing tough measures to stop inflation is called _____
a. cold turkey
b. red tape
c. a pork-barrel policy
d. chokehold
e. time-inconsistency
a
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How does inflation act as a tax?
What will be an ideal response?
Other things constant, the quantity theory of money concludes that any increase in the quantity of money
A) decreases the demand for money. B) decreases in the aggregate price level. C) decreases the aggregate level of nominal income. D) proportionally increases the price level.
The graph shown demonstrates a tax on sellers. Who bears the greater tax incidence?
A. The sellers
B. The buyers
C. The government
D. The incidence is equally shared between buyer and seller.
The point where diminishing marginal returns has begun to affect production is best characterized by the point where the:
A. marginal product curve begins to be negatively sloped. B. total product curve flattens out. C. average product curve begins to be negatively sloped. D. marginal product curve equals the average product curve.