Stagflation is a term that usually describes an economy experiencing:
A) Low inflation.
B) Low inflation coupled with low growth.
C) High inflation with a recessionary gap.
D) Low unemployment rates and low inflation rates.
Correct Answer:
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Q32: Stabilization policy refers to the use of:
A)Only
Q34: Business cycles vary in:
A)The length of recessions
Q36: An inflation shock that shifts the short-run
Q39: Almost all recessions identified by the NBER
Q40: According to the NBER, a severe decline
Q41: Increases in potential output shift:
A)The long-run aggregate
Q42: Monetary policymakers can take advantage of the
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