Which of the following countries has not experienced hyperinflation in the twentieth century?
A. Germany
B. Russia
C. Argentina
D. United States
Answer: D
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One clear triumph for New Classical macroeconomics is its contribution to the analysis of hyperinflation
In bringing extremely rapid inflation to a halt by radical changes in policy, there is generally ________ loss of output, which ________ the Policy Ineffectiveness Proposition. A) only a modest, supports a mild form of B) only a modest, completely overturns C) a major, supports a mild form of D) a major, completely overturns
The above figure shows the market for rice in Japan. S2 represents the domestic supply curve, and S1 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.
Total factor productivity is
A) the quantity of output per worker. B) the quantity of output per unit of capital. C) the ratio of inputs divided by outputs. D) the quantity of output per unit of input.
The proven-reserves figure used in most years-to-depletion calculations encompasses oil reserves that are ________ and ________ to extract
A) known; economical B) both known and unknown; economical C) known; both economical and uneconomical D) both known and unknown; both economical and uneconomical