Deflation refers to a:
a. decreasing relative prices.
b. decreasing price level.
c. slowing down of the rate of inflation.
d. federal government policy of running budget surpluses.
b
Economics
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Which of the following is most important for the successful functioning of any economy?
A) Clearly understood and generally accepted rules. B) Common and reasonably specific goals for people to pursue. C) Greed. D) Low taxes relative to income. E) Sufficient purchasing power to buy all of an economy's goods and services.
Economics
When a farmer uses someone else's land in exchange for a percentage of the crop, this is called
a. rental contract b. labor contract c. sharecropping d. tenancy e. none of the above
Economics