Author Question: A simultaneous increase in inflation and decrease in economic growth in a country can be associated ... (Read 32 times)

Lisaclaire · **on:** Jun 30, 2018

A simultaneous increase in inflation and decrease in economic growth in a country can be associated with:
a. a decrease in aggregate demand with no change in aggregate supply.
b. an increase in aggregate demand and aggregate supply.
c. an increase in aggregate supply with no change in aggregate demand.
d. a decrease in aggregate supply and aggregate demand.
e. a decrease in aggregate supply with no change in aggregate demand.

Question 2

The minimum wage should be increased so that low-income workers can afford to feed their families. This is an example of:
a. a positive economic statement.
b. a negative economic statement.
c. the fallacy of composition.
d. a normative economic statement.