When the money supply and the price level in countries that experienced hyperinflation are plotted on a graph against time, we see that
a. the price level grew at about the same rate as the money supply.
b. the price level grew at a much faster rate than the money supply.
c. the price level grew at a much slower rate than the money supply.
d. the inflation rate and the money supply growth rate do not appear to be related.
a
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An increase in domestic demand for a product protected by a quota results in an increase in producer surplus for domestic firms, while for a tariff it would result in more imports
Indicate whether the statement is true or false
Refer to the diagram, where variable inputs of labor are being added to a constant amount of property resources. Average variable cost will be at a minimum when the firm is hiring:
A. Q 3 workers.
B. Q 2 workers.
C. Q 1 workers.
D. more than Q 3 workers.
Refer to the information provided in Table 22.3 below to answer the question(s) that follow. Table 22.3
Refer to Table 22.3. The unemployment rate is
A. 2.8%. B. 5%. C. 5.3%. D. 7.2%.
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What will be an ideal response?