Cost-push inflation occurs
A) when the aggregate supply curve shifts to the left, while aggregate demand remains stable.
B) when the aggregate demand curve shifts to the left, while aggregate supply remains stable.
C) when the aggregate supply curve shifts to the right, while aggregate demand remains stable.
D) when the aggregate demand curve shifts to the right, while aggregate supply remains stable.
A
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A voting procedure in which each voter ranks alternatives and awards more points to higher-ranked alternatives and fewer points to lower-ranked alternatives,
and the alternative which receives the most total points from all voters wins, is known as the A) Borda-count method. B) Condorcet method. C) instant runoff method. D) plurality-rule method
According to the 1974 Constitution of the former Yugoslavia, nobody in Yugoslavia owns resources. Being a socialist country, the constitution claimed resources were owned by "society" as a whole. According to the economic way of thinking,
A) their economic problem would be solved. B) resources would finally be used efficiently, because the profit motive would be destroyed. C) people would use Yugoslavia's resources wastefully because they themselves wouldn't have to pay the opportunity cost. D) the central planners would know how to calculate the true values and costs of resource use.