Author Question: Which of the following statements about the history of inflation in the U.S. is true? a. ... (Read 73 times)

strangeaffliction · **on:** Jun 30, 2018

Which of the following statements about the history of inflation in the U.S. is true?

a. Inflation averaged roughly 2 from 1950-19-65, but has fallen since then.
b. Inflation has averaged roughly 2 since 1950.
c. Inflation averaged roughly 2 from 1950-1965, rose until the early 1980s, and has fallen slowly since.
d. Inflation has gradually climbed since the 1950s.

Question 2

In the classical macroeconomic model, a decrease in the real wage would cause

a. a decrease in the marginal product of labor and an increase in the quantity demanded for labor.
b. an increase in the marginal product of labor and an increase in the quantity demanded for labor.
c. no change in the quantity demanded for labor.
d. an increase in both the supply of and demand for labor.