Which of the following refers to extremely high rates of inflation for sustained periods of time?
a. deflation
b. hyperinflation
c. bust
d. depression
b
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Refer to Figure 4-1. If the market price is $1.50, what is Arnold's consumer surplus?
A) $1.50 B) $2.25 C) $3.00 D) $4.75
The tax multiplier is smaller in absolute value than the government purchases multiplier because some portion of the
A) decrease in taxes will be saved by households and not spent, and some portion will be spent on imported goods. B) increase in government purchases will be saved by households and not spent, and some portion will be spent on imported goods. C) decrease in taxes will be saved by households and not spent, and some portion will be spent on consumer durable goods. D) increase in government purchases will be saved by households and not spent, and some portion will be spent on consumer durable goods.
In the U.S., from the early 1980s through the early 1990s,
a. both inflation and nominal interest rates rose. b. both inflation and nominal interest rates fell. c. the inflation rate fell and the nominal interest rate rose. d. the inflation rate rose and the nominal interest rate fell.
Which of the following students would be most likely to drop out of college before completing their degree?
What will be an ideal response?