When the price of a key input increases suddenly, it causes:
A. cost push inflation.
B. the business cycle to become sporadic.
C. demand pull inflation.
D. the velocity of money to rise.
A. cost push inflation.
Economics
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The people firms hire to attempt to convince state legislators and members of Congress to pass laws that are favorable to the economic interests of the firms are called
A) government bureaucrats. B) lobbyists. C) legislative assistants. D) economic advisors.
Economics
Refer to the figure above. The relative price of S (in terms of T) is
A) 2. B) 1/2. C) 500. D) 1000.
Economics