The three variants of cost-push inflation are (1) _____, (2) _____, and (3) ________.
Fill in the blank(s) with the appropriate word(s).
the wage-price spiral; profit-push inflation; supply-side cost shocks
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The aggregate demand curve sloping downward can be explained in part through:
A. the wealth effect. B. the negative relationship between the price level and government spending. C. the positive relationship between the price level and net exports. D. All of these are true.
The benefits received principle means those with the least ability to pay should be the ones to receive the benefits
a. True b. False Indicate whether the statement is true or false
Normal profit is a term for
a. explicit profit. b. the competitive rate of return. c. the accounting profit forgone. d. pure economic profit.
Which group is most likely to be adversely affected by the importation of foreign steel?
A. Domestic steelworkers. B. Foreign steel producers. C. Consumers of domestic automobiles for which steel is an input. D. Domestic automobile workers.