The term stagflation refers to: a. a simultaneous reduction in ...

[Garrulous]

The term stagflation refers to:
 a. a simultaneous reduction in output and the price level.
 b. a simultaneous increase in output and the price level.
 c. a decline in the price level accompanied by increases in real output and employment.
  d. an increase in the price level accompanied by decreases in real output and employment.
  e. a simultaneous increase in both the trade deficit and the budget deficit.

Question 2

An oligopolist operating with a kinked demand curve would expect rivals to match both its price increases and price decreases.
 a. True
  b. False
  Indicate whether the statement is true or false

[Natalie4ever]

Answer to Question 1

d

Answer to Question 2

False