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Author Question: Which of the following is true of cost-push inflation? a. Cost-push inflation is associated with an ... (Read 142 times)

rosent76

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on: Jun 30, 2018
Which of the following is true of cost-push inflation?
 a. Cost-push inflation is associated with an economic expansion.
  b. Cost-push inflation is rarely experienced in developed economies.
  c. Cost-push inflation is caused by a decrease in aggregate supply.
  d. Cost-push inflation is identical to demand-pull inflation.
  e. Cost-push inflation is the result of increased consumer spending.

Question 2

The government should levy higher taxes on the rich and use the additional revenues to provide better housing for the poor. This statement illustrates:
 a. the fallacy of composition.
 b. the basic principle of economics.
  c. a normative economic statement.
  d. a positive economic statement.


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covalentbond

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


rosent76

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

phuda

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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