Which of the following characterizes stagflation?
A. A decrease in unemployment but an increase in inflation.
B. An increase in both unemployment and inflation.
C. An increase in unemployment but a decrease in inflation.
D. A decrease in both unemployment and inflation.
Answer: B
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Merck, an American pharmaceutical company, produces a vaccination that is used against chicken pox. The table shows the domestic demand for, and supply of, this medication, measured in thousands of doses per day
The world price of this medicine is $24 per dose. a. With no trade, what is the U.S. price and quantity of the vaccine? b. At the world price, how many doses are demanded in the United States? c. At the world price, how many doses are produced in the United States? d. At the world price, how many doses are exported?
In the figure above, the deadweight loss when the market is a single-price monopoly rather than perfectly competitive is the area of
A) triangle aeb. B) triangle aic. C) triangle eig. D) triangle eif.
In the Heckscher-Ohlin model, what assumption is made about opportunity costs?
What will be an ideal response?
How can restricting entry into a union help boost members' wages without the union specifically setting wages?
What will be an ideal response?