From 1995-2007, the Irish economy ________
A) suffered from severe unemployment, famine and labor migration
B) witnessed a boom in the real economy, but suffered through a collapse in asset prices
C) enjoyed one of the highest growth rates in the world
D) suffered through a period of prolonged deflation
C
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The euro is a composite currency; its value is an average of the changing values of several national currencies
a. True b. False Indicate whether the statement is true or false
The economy is initially in long-run equilibrium. The AD curve shifts to the right and the price level rises. Assuming that the economy is self-regulating, the SRAS curve will shift to the left and the price level will rise even further. If the price level now remains constant, what have we witnessed?
A) one-shot demand-induced inflation B) continued demand-induced inflation C) one-shot supply-induced inflation D) one-shot inflation that was partly demand-induced and partly supply-induced E) continued supply-side inflation