1. Which statement below regarding the stagflation of the late 1970s/early 1980s is true?

• Expansionary fiscal policies succeeded in lowering the unemployment rate.
• Disruptions in the oil supply caused the LRAS curve to move to the left.
• Expansionary fiscal policy led to double digit inflation.
• The Phillips curve represented the state of the economy at the time.

Which of the following describes theProducer Price Index?

• A strong indicator of economic growth but not wealth distribution
• What the Conference Board uses to assess economic growth
• An evaluation of crude, intermediate and finished goods
• A popular economic indicator despite its statistical issues

Which of the following factors would increase if thestandard of living were increasing?

• Gender bias toward educational attainment level
• Ethnic bias toward employment
• Literacy rate
• Population growth

Which statement below regarding Corporate Social Responsibility (CSR) is true?

• CSR includes lowering prices to make goods more affordable to consumers.
• CSR refers to practices that are self-regulating and include philanthropy and volunteer work.
• CSR is an emerging area of study that many people still do not know about.
• Critics claim that CSR can damage brand image.