In the 1960s, U.S. economy experienced
A. a substantial decline in real GDP but limited inflation.
B. a substantial decline in real GDP coupled with significant inflation.
C. substantial real GDP growth coupled with significant inflation.
D. substantial real GDP growth with limited inflation.
Answer: D
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Given that the firm wants to sell both the versions, how should it price its products to have the users self-sort themselves profitably?
a. No-name $60; High-end $130 b. No-name $60; High-end $100 c. No-name $40; High-end $100 d. No-name $40; High end $130
Which of the following is an example of a producer taking advantage of economies of scope?
a. A farmer buys more land so he can produce more soybeans. b. GM closes a Chevy truck plant in response to a decline in the demand for trucks. c. Disney World stays open later to serve more customers per day. d. A dairy farmer produces cow's milk and butter. e. A mouthwash firm expands production by improving management efficiency.