Demand-pull inflation is caused by
A. An increase in resource costs as an economy's production capacity is approached.
B. Excessive aggregate demand in relation to an economy's production capacity.
C. An increase in aggregate supply.
D. An increase in inventories.
Answer: B
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Most spells of unemployment are short, and most unemployment observed at any given time is long term. How can this be?
1.The foundation for economic progress is a _____ ______ that protect ______ ____ _______ and enforces _______ in an _____ _____
Fill in the blank(s) with the appropriate word(s).
Two companies, Dirty Inc. and Filthy Inc., each of which has access to 5 different production processes, each of which has a different cost and produces a different amount of pollution. The daily costs of the processes and the number of tons of smoke emitted are shown in the table below.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Dirty Inc. ($/day)$100$200$380$740$1,460Cost to Filthy Inc. ($/day)$400$430$490$580$700 Suppose pollution is initially unregulated. If the City Council requires each firm to reduce emissions by 50 percent, then the total cost to society of this policy will be ________ per day.
A. $360 B. $490 C. $380 D. $870
In game theory, actions such as cheating that focus solely on short-run gains are referred to as
A. predatory behavior. B. opportunistic behavior. C. tit-for-tat strategic behavior. D. territorial behavior.