Question 1

The phenomenon of inflation during recessions

Accepted Answer

A)  is explained by progressive economists as "demand-pull" inflation. 
B)  does not occur. 
C)  is explained by conservative economists as "cost-push" inflation. 
D)  is caused by wage and price controls. 
A)  is explained by progressive economists as "demand-pull" inflation. 
B)  does not occur. 
C)  is explained by conservative economists as "cost-push" inflation. 
D)  is caused by wage and price controls.

Question 2

Compare and contrast the different causes of inflation.
-In most cyclical expansions, do prices go up or down? Why?

Accepted Answer

The answer of Compare and contrast the different causes of...

Question 3

Whats defention of terms:
-repressed inflation

Accepted Answer

The answer of Whats defention of terms:
-repressed inflation...

Question 4

Whats defention of terms:
-cost-push inflation

Accepted Answer

The answer of Whats defention of terms:
-cost-push inflation...

Question 5

Compare and contrast price movements in competitive markets and monopoly/oligopoly markets.
-What are the differences between a competitive market and monopoly/oligopoly markets? How does that impact prices and price formation?

Accepted Answer

The answer of Compare and contrast price movements in competitive...

Question 6

Whats defention of terms:
-effective demand

Accepted Answer

The answer of Whats defention of terms:
-effective demand...

Question 7

Whats defention of terms:
-profit-push inflation

Accepted Answer

The answer of Whats defention of terms:
-profit-push inflation...

Question 8

Explain why there has been inflation in every recession of the last fifty years.
-In most cyclical recessions up until the 1950s, did prices go up or down? Why?

Accepted Answer

The answer of Explain why there has been inflation in...

Question 9

Explain the relationship of oligopolies and profit-push inflation.
-What is profit-push inflation?

Accepted Answer

Oligopolies and profit-push inflation ar

Question 10

Keynesian theory predicts that inflation

Accepted Answer

A)  will rise during expansions and rise during recessions. 
B)  will fall during expansions and rise during recessions. 
C)  will fall during expansions and fall during recessions. 
D)  will rise during expansions and fall during recessions. 
A)  will rise during expansions and rise during recessions. 
B)  will fall during expansions and rise during recessions. 
C)  will fall during expansions and fall during recessions. 
D)  will rise during expansions and fall during recessions.

Question 11

Compare and contrast price movements in competitive markets and monopoly/oligopoly markets.
-Describe differences in historical price movements between competitive and monopoly/oligopoly markets?

Accepted Answer

The answer of Compare and contrast price movements in competitive...

Question 12

The annual rate of inflation is typically measured by

Accepted Answer

A)  a percentage increase in the price of gasoline and other basic commodities. 
B)  the difference in the Consumer Price Index from one year to the next. 
C)  the percentage change in the Consumer Price Index. 
D)  the increase in the real GDP. 
A)  a percentage increase in the price of gasoline and other basic commodities. 
B)  the difference in the Consumer Price Index from one year to the next. 
C)  the percentage change in the Consumer Price Index. 
D)  the increase in the real GDP.

Question 13

Whats defention of terms:
-oligopoly

Accepted Answer

The answer of Whats defention of terms:
-oligopoly...

Question 14

The Keynesian explanation of inflation is that

Accepted Answer

A)  it is caused by aggregate demand rising faster than aggregate supply. 
B)  it is caused by aggregate supply rising faster than aggregate demand. 
C)  it is caused by an expansion of the money supply. 
D)  it is caused by rising costs of production during a time of deficient aggregate demand. 
A)  it is caused by aggregate demand rising faster than aggregate supply. 
B)  it is caused by aggregate supply rising faster than aggregate demand. 
C)  it is caused by an expansion of the money supply. 
D)  it is caused by rising costs of production during a time of deficient aggregate demand.

Question 15

Whats defention of terms:
-stagflation

Accepted Answer

The answer of Whats defention of terms:
-stagflation...

Question 16

Gardiner Means examined the relationship between prices and output during the Great Depression and found that

Accepted Answer

A)  oligopoly industries maintained prices by greatly reducing output. 
B)  oligopoly industries lowered prices by increasing output. 
C)  oligopoly industries increased prices through sheer monopoly power. 
D)  oligopoly industries greatly reduced prices and managed to maintain production levels. 
A)  oligopoly industries maintained prices by greatly reducing output. 
B)  oligopoly industries lowered prices by increasing output. 
C)  oligopoly industries increased prices through sheer monopoly power. 
D)  oligopoly industries greatly reduced prices and managed to maintain production levels.

Exam 50: Inflation

The phenomenon of inflation during recessions

Compare and contrast the different causes of inflation. -In most cyclical expansions, do prices go up or down? Why?

Whats defention of terms: -repressed inflation

Whats defention of terms: -cost-push inflation

Compare and contrast price movements in competitive markets and monopoly/oligopoly markets. -What are the differences between a competitive market and monopoly/oligopoly markets? How does that impact prices and price formation?

Whats defention of terms: -effective demand

Whats defention of terms: -profit-push inflation

Explain why there has been inflation in every recession of the last fifty years. -In most cyclical recessions up until the 1950s, did prices go up or down? Why?

Explain the relationship of oligopolies and profit-push inflation. -What is profit-push inflation?

Keynesian theory predicts that inflation

Compare and contrast price movements in competitive markets and monopoly/oligopoly markets. -Describe differences in historical price movements between competitive and monopoly/oligopoly markets?

The annual rate of inflation is typically measured by

Whats defention of terms: -oligopoly

The Keynesian explanation of inflation is that

Whats defention of terms: -stagflation

Gardiner Means examined the relationship between prices and output during the Great Depression and found that

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