The inflation associated with the oil price shocks in the 1970s after OPEC restricted the supply of oil is an example of
A) cost-push inflation due to a supply shock.
B) cost-push inflation due to a demand shock.
C) demand-pull inflation due to a demand shock.
D) demand-pull inflation due to a supply shock.
A
Economics
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An inflation rate of 5% between 2017 and 2018 would be implied by a change in the GDP deflator from ________ in 2017 to ________ in 2018
A) 105; 115 B) 200; 205 C) 400; 420 D) 375; 390
Economics
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.
Economics