Category: Economics

When two economic goals are in conflict, this means that __________.
Question 37 options:
both goals are not economic goals
there is a trade-off in achieving both goals
when one goal is achieved, so is the other goal
trial by combat determines which goal wins
both goals cannot be achieved at the same time

Question 49 (2 points)
Economics can be defined as a study of:
How government controls the daily activities of its citizens
How individuals and society try to make the best use of scarce resources
The stock market, big business, and how to make money
Marketing, advertising, and product development

Unemployment spiked in the fall of 2009 because businesses couldn’t ◻ and so ◻ and ◻ dropped. Trade commodities; revenue; growth
Trade commodities; revenue; growth
Access credit; new investment; aggregate demand
Manage expectations; morale; commitment
Afford new tariffs; imports; production
Securitize labor; asset values; interest rates

Which statement is correct all sectors of economy are affected to similar degrees by business fluctuations real output unemployment generally show variance over the business cycle the production of non-durable consumer goes as more stable than the production of durable consumer goods over the business

➤ When does the inverse short-run relationship between inflation and unemployment break down?
The inverse link can break down during supply shocks or stagflation, when rising costs push inflation up alongside higher unemployment. It also fails if inflation expectations shift rapidly or if the economy hits structural unemployment. In the long run the Phillips curve becomes vertical at the natural or NAIRU unemployment rate.

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