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Phantasy [73]
2 years ago
15

True or False? Inflation is when prices rise at a high rate.

Social Studies
1 answer:
hoa [83]2 years ago
7 0

Answer: true

Explanation: One factor that seems to cause baby boomers to hark back to the Carter administration is high gasoline prices. When people think of Carter-era inflation, they often connect it to those high prices and the high world price of oil starting in 1973 and increasing, with fits and starts, through the 1970s. But one increased price does not inflation make. We can’t tell anything about inflation by looking at specific prices.

It is true that when a country such as the United States is a net importer of oil, an increase in the price of oil will, all else equal, cause our real GDP to be lower than otherwise. Go back to the equation of exchange discussed earlier. With slightly lower real GDP than otherwise, the price level, and therefore inflation, is higher than otherwise. But today the United States is only a small net importer of oil and as recently as late 2019 was a slight net exporter. So an increase in the price oil simply helps domestic producers to about the same extent that it hurts domestic consumers. The net effect on real US GDP is close to zero.

There’s one caveat to the above. Any government policy that causes waste makes real GDP lower than otherwise and, therefore, causes the price level to be somewhat higher than otherwise. The wasteful policy that is one of the factors in the recent increase in gasoline prices is the federal government’s policy on ethanol, which began during the George W. Bush administration. Although I can’t go into a detailed explanation here, the federal government’s requirement that refiners use ethanol in gasoline adds 30 cents to the price per gallon. Not all of that 30 cents was added recently. But the recently increased price of waivers that allow refiners to avoid using car-destroying ethanol has accounted for some of the recent increase in gasoline prices.

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5 0
3 years ago
Name one muckraker and their contributions to the Progressive movement?
mr_godi [17]

Answer:Muckrakers were a group of writers, including the likes of Upton Sinclair, Lincoln Steffens, and Ida Tarbell, during the Progressive era who tried to expose the problems that existed in American society as a result of the rise of big business, urbanization, and immigration.

Explanation:

6 0
2 years ago
In addition to gerrymandering, a major reason why so many members of Congress are elected from "safe" districts is
Delvig [45]

Based on the socio-political system, in addition to gerrymandering, a significant reason why so many members of Congress are elected from "safe" districts is "<u>the natural geographic clustering of people who share a political ideology."</u>

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One of the reasons is that people living in the same geographical area share similar issues, such as social infrastructures.

Another reason is that people can easily influence one another when they stay in the same locality, increasing the clustering of people who share a political ideology.

Hence, in this case, it is concluded that the correct answer is "<u>the natural geographic clustering of people who share a political ideology."</u>

Learn more here: brainly.com/question/18989033

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