When governments rapidly increase the supply of money, the usual result is
A. deflation.
B. low inflation.
C. hyperinflation.
D. increasing long-term investment.
Answer: C
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A borrower who obtains funds from a lender to purchase additional inventory but uses the funds to finance a trip to Las Vegas for a weekend of gambling at the opening of a new casino is an example of:
A. the free-rider. B. the moral hazard problem. C. lax government regulation. D. the problem of adverse selection.
The slope of the consumption function reflects the
a. average propensity to consume b. the ratio of income to consumption c. marginal propensity to consume d. level of autonomous consumption e. level of income
Which of the following is generally NOT an example of a zero price?
A. Getting a refill of coffee at a restaurant B. Downloading another MP3 from iTunes C. Watching another movie on Netflix D. Sending another text message
Profits are zero when __________ = ___________ = ___________.
Fill in the blank(s) with the appropriate word(s).