Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation.
B. low economic growth and low inflation.
C. high economic growth and low inflation.
D. low economic growth and high inflation.
D. low economic growth and high inflation.
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The Todaro model suggests that rural urban migration depends on
a. the gap between rural and urban wages b. the gap between rural and urban wages modified by the likelihood of obtaining a job in the city c. the gap between rural and urban wages modified by the likelihood of having a family member alreadyin the city d. the gap between rural and urban wages modified by government-provided employment possibilities inthe city e. none of the above
Based on Table 3.1, trade between the United States and Mexico will occur as long as the relative price of shoes is between
A) three computers and one computer. B) three computers and two computers. C) one-half computer and one-third computer. D) six computers and three computers. E) None of the above.