Which of the following is the main cause of the persistent inflation that we have experienced in the United States?

A) supply-side inflationary factors
B) demand-side inflationary factors
C) a combination of supply- and demand-side inflationary factors
D) supply-side secularity factors

B

Economics

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Prior to the 1880s, federal government control over the daily operations of private economic activity

(a) was important but not as important as during the 1880s and following decades. (b) was virtually nonexistent; state and local governments handled any regulation or business management. (c) was important, but in the 1880s and following decades, it became less important as it was realized that regulation was basically inconsistent with the efficient operation of free markets. (d) was virtually nonexistent and did not become important until the Great Depression and New Deal programs of the 1930s.

Economics

Clifford lives by the motto "Eat, drink and be merry today, for tomorrow doesn't matter." If today's consumption is measured on the horizontal axis and tomorrow's consumption is measured on the vertical axis, Clifford's indifference curves

A) are horizontal straight lines. B) are vertical straight lines. C) show decreasing utility as one moves upward. D) cannot be determined from the information given.

Economics