The Recessions of the 1970s Are Often Attributed to

question 7

Multiple Choice

The recessions of the 1970s are often attributed to

• A)declining inflation expectations.
• B)an increase in oil prices.
• C)declines in the price of stock.
• D)decreases in the money supply.

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Definitions:

Space

The infinite extension of the three-dimensional region in which all matter exists.

Acceleration

in physics, refers to the rate of change of velocity of an object with respect to time.

Utility

A measure of satisfaction or pleasure that a consumer derives from consuming goods and services.

Utility Function

A mathematical representation of how consumer preferences are ordered for different goods or bundles of goods.