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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A production possibilities frontier shows
A) the various combinations of output a nation can produce a certain time, given its available resources and technology. B) the limits to future growth of a nation. C) how money can be allocated among two kinds of goods. D) that if price of one good decreases, the price of the other has to increase. E) that it is impossible to produce inefficiently.
An appreciation of the U.S. dollar would
a. encourage foreigners to invest in the United States. b. discourage foreigners from buying U.S. goods. c. discourage the travel abroad of U.S. citizens. d. encourage foreign travel in the United States.
The term “dirty float” is used to describe a
A. black market in foreign currencies. B. floating currency that is “managed” by central bank authorities. C. nation that switches from free to fixed exchange rates. D. currency system used only in inflationary periods.
The difference(s) between NAFTA and the EEC is (are)
a. that the EEC is a free trade area while NAFTA is a customs union b. that NAFTA is a free trade area while the EEC is a customs union c. that both NAFTA and EEC are custom unions, but the EEC is in Europe while NAFTA is in North America d. that both NAFTA and EEC are free trade areas, but the EEC is in Europe while NAFTA is in North America e. that NAFTA countries place no tariffs on trade while the EEC countries do