________ 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
How does a firm raise external funds through direct finance?
What will be an ideal response?
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.
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.