Stagflation is:
A. low economic growth, despite low inflation and low unemployment.
B. high inflation along with low economic growth and high unemployment.
C. high unemployment, despite low inflation and low economic growth.
D. high inflation despite low economic growth and low unemployment.
Answer: B
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Billie Jo values a stainless steel dishwasher for her new house at $500, but she succeeds in buying one for $425 . Billie Jo's willingness to pay for the dishwasher is
a. $150. b. $425. c. $500. d. $850.
Under these conditions, the ratio of the international price of services relative to the price of goods should fall into what range?
a) less than 9/8 b) 9/8 to 2.4 c) 4/3 to 1.6 d) 1.5 to 1.8 e) more than 2.4
A distinguishing characteristic of public transfer payments is that:
a. They are used to subsidize the major transportation carriers to reduce transportation costs b. They are counted as part of government purchases in the calculation of the gross domestic product c. There is a tax on the amount of the subsidy above a certain income level d. The recipients make no contribution to current production in return for them
An individual bank can safely lend out a multiple of its excess reserves, but the banking system can safely lend out only an amount equal to the excess reserves in the banking system.
Answer the following statement true (T) or false (F)