Economic stagnation coupled with high inflation is commonly called:
A. stagflation.
B. inflationary stagnation.
C. stagnatory growth.
D. inflagnation.
Answer: A
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Refer to Figure 9-3. Without the quota, the domestic price of peanuts equals the world price which is $2.00 per pound. What is the quantity of peanuts demanded by domestic consumers in the absence of a quota?
A) 10 million pounds B) 28 million pounds C) 30 million pounds D) 40 million pounds
Other things being equal, a decrease in the default risk of corporate bonds shifts the demand curve for corporate bonds to the ________ and the demand curve for Treasury bonds to the ________
A) right; right B) right; left C) left; right D) left; left
The products sold by monopolistically competitive firms
A) are differentiated. B) are homogeneous. C) can be either homogeneous or differentiated. D) are close substitutes of each other.
Given the data in the above table, what is the marginal revenue when the 12th unit is sold?
A) $7.00 B) $5.00 C) $3.00 D) $1.00