In the United States, the inflation rate since 1999 generally was
A) lower than between 1979 to 1981.
B) higher than between 1979 to 1981.
C) higher than in the 1980s.
D) much higher than between 1985 to 1995.
E) negative.
A
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Which of the following countries provides the best example of a successful import substitution development strategy?
(a) Chile. (b) Taiwan. (c) Argentina. (d) Botswana.
During economic contractions, transfer payments such as welfare benefits _____. a. automatically increase, reducing income further
b. automatically increase, reducing the impact of the contraction on disposable income. c. automatically decrease because tax revenues fall and welfare benefits are no longer affordable. d. are decreased as a discretionary move on the part of Congress to stimulate expansion. e. are increased as a discretionary move on the part of Congress to cushion recipients against the negative effects of economic contraction.
At an output of 10, ATC is $9 and price is $9. At an output of 11, ATC is $9 and price is $9. MC = MR at an output of 10.5. At that output the firm will
A. take a loss. B. break-even. C. make a profit.
The measure of production that values production using current prices is called
A) value-added GDP. B) nominal GDP. C) real GDP. D) underground GDP.