If inflation turns out to be higher than was anticipated, debtors are helped because
A) the real present value of their payments increases.
B) the real present value of their payments decreases.
C) the nominal present value of their payments increases.
D) the nominal present value of their payments decreases.
B
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What are the characteristics of oligopoly?
When a university bookstore prices chemistry textbooks at $200 each, it generally sells 120 books per month. If it lowers the price to $160, sales increase to 160 books per month. Given this information, we know that the price elasticity of demand for chemistry books is about
a. 1.29, and a decrease in price from $200 to $160 results in an increase in total revenue. b. 1.29, and a decrease in price from $200 to $160 results in a decrease in total revenue. c. 0.78, and a decrease in price from $200 to $160 results in an increase in total revenue. d. 0.78, and a decrease in price from $200 to $160 results in a decrease in total revenue.
Economics is the study of the ________ people make to attain their goals, given their ________ resources
A) purchases; unlimited B) choices; scarce C) income; available D) decisions; household
The use of foreign exchange reserves to keep exchange rates constant over time is called
A. barter exchange system. B. a fixed exchange rate system. C. the Bretton Woods system. D. a floating exchange rate system.