Which statement is true?
A. There was a great deal of stagflation in the 1960s.
B. We had full employment for most of the 1980s.
C. We have had twelve recessions since the beginning of 1945.
D. None of the choices are true.
C. We have had twelve recessions since the beginning of 1945.
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Assume at the firm's profit-maximizing level of output P = AVC. In this case, the firm will be:
A) earning a positive economic profit. B) earning economic profit = 0. C) incurring an economic loss. D) breaking even.
Suppose the annual growth rate of real GDP for the nation of Vicuna is 8%, the growth rate of velocity is 0%, and the growth rate of the money supply is 12%
a. What is the current rate of inflation? b. What will happen to the inflation rate if the growth of the money supply increases to 16%? c. What will happen to the inflation rate if the growth of the money supply increases to 16%, and at the same time, the growth rate of velocity increases to 4%?