The word stagflation describes a situation in which: a. a higher ...

[jc611]

The word stagflation describes a situation in which:
 a. a higher price level occurs simultaneously with higher employment.
 b. a lower price level occurs simultaneously with economic growth.
 c. a higher price level occurs simultaneously with lower aggregate output.
  d. a lower price level occurs simultaneously with federal budget deficits.
  e. a higher price level occurs simultaneously with federal budget surpluses.

Question 2

A cartel is an agreement among firms to divide output of a product among members.
 a. True
  b. False
  Indicate whether the statement is true or false

[jharrington11]

Answer to Question 1

c

Answer to Question 2

True