What are the primary effects of cost-push inflation?
A. It raises real output, and redistributes an increased level of real income
B. It reduces real output and redistributes a decreased level of real income
C. It raises real output, but redistributes a decreased level of real income
D. It reduces real output, but redistributes an increased level of real income
B. It reduces real output and redistributes a decreased level of real income
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After graduating from high school, Steve had the following three choices for his immediate future, listed in order of preference: (1) attend our campus, (2) work in a printed circuit board factory, or (3) attend a rival college. His opportunity cost of going to college here includes which of the following?
a. The cost of books and supplies at the rival college b. The income he could have earned at the printed circuit board factory plus the direct cost of attending college here (tuition, textbooks, etc.) c. The benefits he could have received from going to the rival college d. Only the tuition and fees paid for taking classes here e. Cannot be determined from the information given
The federal government debt as a percentage of GDP fell
A) from 2002-2007. B) from 1980-1992. C) during World War I and World War II. D) from 1998-2001. E) during the Great Depression.