Demand-pull inflation is associated with a(n):
a. Decrease in aggregate supply
b. Increase in aggregate supply
c. Increase in aggregate demand
d. Decrease in aggregate deman
c. Increase in aggregate demand
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Technologically efficient production plans are also economically efficient.
Answer the following statement true (T) or false (F)
If the marginal propensity to consume (MPC) is 0.9, the spending multiplier will be
A) 10. B) 1.11. C) 0.9. D) 0.1.
If the government of a country decides to cut the tax rates, there will be a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve
d. leftward shift of the short-run Phillips curve.
By the start of the 21st century, the developed economies with the largest national debt relative to GDP were
a) US and Spain b) Italy and Japan c) France and Germany d) Australia and New Zealand e) Norway and Ireland