Stagflation refers to
A. The simultaneous occurrence of higher inflation and higher unemployment rates.
B. Simultaneous decreases in inflation rate and unemployment rate.
C. Inflation resulting from lower unemployment rates.
D. Negative inflation rates.
Answer: A
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The Study of economics is primarily concerned with
A) Keeping private businesses from losing money B)choices which have to be made concerning the use of scarce resources. C)determining with most equitable distribution of societies output D)Demonstrating that capitalistic economies are superior to socialistic economies
One source of inefficiency associated with monopolies stems from their insulation from competition and thus reduced incentive to cut costs and innovate.
Answer the following statement true (T) or false (F)