Huge increases in government spending and record low levels of unemployment during the Vietnam War era in the late 1960s led policy makers to fear that
A) the economy was slipping into a recession, which would increase unemployment.
B) the economy was growing too fast, which would increase unemployment.
C) the economy was slipping into a recession, which would increase inflation.
D) the economy was growing too fast, which would increase inflation.
D
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Example of structural unemployment?
A. Factory worker temporally laid off during a recession. B. Recent Graduates C. A mother chooses to stay with child instead of working. D. Unskilled worker can't get hired because the minimum wage is too high. E. A retired person living off her saving.
In terms of pricing, which of the following is not true for a monopolist?
A.) In the long-run economic profit is impossible. B.) Marginal revenue is always less then the price charged. C.) If marginal revenue is greater then marginal cost increasing output will increase profits (decrease loss). D.) Maximum profit (minimum loss) occurs where marginal revenue equals marginal cost.