Stagflation means a
A) high rate of inflation coupled with a high rate of unemployment.
B) high rate of inflation coupled with a very low rate of unemployment.
C) low rate of inflation coupled with a very high rate of unemployment.
D) low rate of inflation coupled with a rate of unemployment below the natural rate.
A
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If a country is producing efficiently and is on the production possibilities frontier, the only way to produce more of one good is with an advance in technology
Indicate whether the statement is true or false
The last of the public land was sold between 1881 and 1907
Indicate whether the statement is true or false
Economic theory suggests that if natural resources can be held as private property, then
A) conservation will be nonexistent. B) owners will have an incentive not to abuse them. C) natural resources will be sold off for immediate use. D) people will simply hold them and refuse to make them available.
The price system rations goods among consumers in such a way that
A. all are treated equally. B. all needs are satisfied. C. the rich are favored. D. important needs are satisfied first.