Choose the One Most Appropriate Answer for Each

question 37

Multiple Choice

Choose the one most appropriate answer for each.
-higher prices due to greater effort needed to produce the same product today

• A)age distribution
• B)base industry
• C)buying pattern
• D)cost-push inflation
• E)demand
• F)demand-pull inflation
• G)economic base
• H)employment multiplier
• I)Federal Reserve Board
• J)long-run demand
• K)monetary inflation
• L)monetize the debt
• M)primary industry
• N)real
• O)real-cost inflation
• P)secondary industry
• Q)service industry
• R)short-run demand
• S)supply
• T)vulnerability

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Definitions:

Guiding Principles

Fundamental norms, rules, or values that represent what is desirable and positive for a person, group, organization, or community, and help it to determine the rightfulness or wrongfulness of its actions.

Revolutionary Spirit

The energetic determination and radical mindset advocating for fundamental change in a society or government.

Shays's Rebellion

An armed uprising in Massachusetts (1786-1787), led by Daniel Shays, protesting economic injustices and the lack of government response to the economic plight of farmers.

Virginia Plan

A proposal by Virginia delegates for a bicameral legislative branch during the drafting of the United States Constitution in 1787.