An analysis of countries experiencing rapid inflation indicates that inflation is generally
a. caused by strong labor unions that push wages up rapidly.
b. caused by rapid growth in the money supply.
c. the result of restrictive macroeconomic policy, which pushes up interest rates.
d. the result of bad weather conditions that reduce the supply of agriculture products.
B
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The fastest growing nations today
A) are not saving but instead are investing. B) have the government directing all their research and development. C) have non-democratic political systems. D) have the fastest growing exports and imports. E) have erected many trade barriers to protect domestic firms.
The gross domestic product (GDP) excludes: a. the value of a new building
b. the value of new stocks and shares. c. the cost of a new vending machine. d. government expenditure on a new bridge. e. the money spent on the purchase of legal services by a household.