Author Question: Stagflation is defined as: a. decreased output accompanied by a higher price level. b. decreased ... (Read 123 times)

tth · **on:** Jun 30, 2018

Stagflation is defined as:
a. decreased output accompanied by a higher price level.
b. decreased output accompanied by a lower price level.
c. increased output accompanied by a lower price level.
d. increased output accompanied by a higher price level.
e. stagnation in the rate of inflation.

Question 2

In an economy in which velocity is constant and the same level of real output is produced year after year, a slow increase in the money supply would result in a:
a. constant price level.
b. slowly increasing price level.
c. rapidly increasing price level.
d. slowly increasing real GDP.
e. rapidly increasing real GDP.