Why do the regulated companies oppose deregulation?
a. They would be deprived of an opportunity to compete with other firms.
b. They would be deprived of their rights to continue business.
c. They would be denied any kind of support from the government.
d. They would incur losses on account of increased competition.
e. They would become unpopular as they would no longer be controlled by the government.
d
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Inflation caused by a rise in the prices of inputs is referred to as ________.
A. hyperinflation B. unexpected inflation C. demand-pull inflation D. cost-push inflation
Households
a. own and sell resources b. play a very minor role in the economy c. supply goods and services d. are the largest purchasers of resources e. none of the above
If you believe that velocity is constant and that the aggregate supply curve is vertical, then the quantity theory of money would predict that a doubling of the money supply would cause a doubling of
A. nominal output and real output. B. nominal output and no change in real output. C. real output and no change in nominal output. D. the price level and real output.
According to the long-run Phillips curve, if the Fed increases the growth rate of the money supply, what happens to the inflation rate and the unemployment rate in the long run?