Inflation Expectations in the United States Generally

question 73

Multiple Choice

Inflation expectations in the United States generally

• A)fell from 1971 to 1976, rose from 1977 to 1985, then fell from 1985 to 1995, and have been stable since then.
• B)fell from 1971 to 1985, then rose from 1985 to 2000, and have been stable since then.
• C)rose from 1971 to 1987, then fell from 1987 to 2006.
• D)rose from 1971 to 1982, then fell from 1982 to 2000, and have been stable since then.

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Definitions:

Comparative Advantage

A concept in economics where a country or entity can produce a good at a lower opportunity cost than another, leading to more efficient trade benefits.

Export

The process of shipping goods or services from one country to another country for sale or trade.

Specialize

The process of focusing efforts and resources on a narrow area of expertise or production to increase efficiency and proficiency.

Comparative Advantage

The ability of a country, company, or individual to produce a good or service at a lower opportunity cost than competitors.