Governments usually accept goods inflation as long as it stays low, which for the United States currently means around:

A. 5.5 to 6 percent.
B. 3.5 to 4 percent.
C. 1 to 2.5 percent.
D. 7.5 to 8 percent.

Answer: C

Economics

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Differences in income are most directly related to which of the following economic question?

A) What goods and services are produced? B) In what quantities are various goods and services produced? C) How are goods and services produced? D) Who consumes the goods and services that are produced?

Economics

We know that products G and H are related goods, because when the price of G increases,

A) the demand curve for H will shift to the right, because G and H are complementary goods. B) the quantity of H demanded will shift along its demand curve, because G and H are complementary goods. C) the demand curve for H will shift to the left, because G and H are complementary goods. D) the demand curve for H will remain unchanged because G and H are substitute goods.

Economics