________ corresponds to lower output and ________ corresponds to higher output.
A. Demand-pull inflation; stagflation
B. Cost-push inflation; demand-pull inflation
C. Demand-pull inflation; cost-push inflation
D. Stagflation; cost-push inflation
Answer: B
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The Chairman of the Fed is appointed by ________
A) the Board of Governors of the Federal Reserve System B) the President of the United States C) Congress D) the U.S. Senate
It is likely that for most people:
A. coffee and tea are substitutes. B. coffee and coffee mugs are substitutes. C. coffee and Coke are complements. D. coffee and non-dairy creamer are substitutes.
How does a firm raise external funds through direct finance?
What will be an ideal response?
Walter builds birdhouses. He spends $5 on the materials for each birdhouse. He can build one in 30 minutes. He is semi-retired but earns $8 per hour at the local hardware store. He can sell a birdhouse for $20 each. An economist would calculate the total cost for one birdhouse to be
a. $5. b. $8. c. $9. d. $13.