Which one of the following statements about the United States is true?
A. The United States has experienced inflation every year since 1800.
B. Prior to World War II, the United States experienced deflation virtually every year; since World War II, the United States has consistently experienced inflation.
C. Prior to World War II, the United States experienced periods of both deflation and inflation.
D. Since World War II, the United States has experienced deflation.
Answer: C
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In the Utah Pie case, the economic effect of the Supreme Court decision was to:
a. prohibit the merger of two small pie companies. b. encourage competition by ruling that the national competitors had engaged in illegal price discrimination. c. encourage competition by ruling that the national competitors had not engaged in illegal price discrimination. d. discourage competition by national competitors in the Salt Lake City market.
If the interest rate decreases, there will be
a. a movement leftward from one point on the money demand curve to another point on the same curve b. no change in the quantity of money demanded c. a leftward shift of the entire money demand curve caused by a demand shock d. a rightward shift of the entire money demand curve e. a movement rightward from one point on the money demand curve to another point on the same curve