To an economist, the term "inflation" refers to:
A) Any price increases
B) A continually rising price level
C) A one-time change in the average price level
D) Increases in prices of important goods like food and energy
Correct Answer:
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Q8: Short-run movements in inflation and output are
Q9: The Fed hopes to impact short-run inflation
Q10: To economists, inflation means all of the
Q11: If inflation is very high, say 50
Q13: Which of the following statements is most
Q13: Aggregate supply is the quantity of:
A)Real output
Q14: Recent policy statements by the FOMC announce
Q15: For central bankers to alter the real
Q16: The FOMC targets the federal funds rate,
Q17: Potential output of the country when viewed
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