A rising inflation rate tends to injure the following types of people:
A) retirees and students with savings accounts.
B) borrowers and homeowners.
C) homeowners with mortgages and students with student loans.
D) landowners and borrowers.
A
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Which of the following trends is most likely the result of an expansionary monetary policy?
a. The demand for both costume jewelry and expensive jewelry rises. b. The demand for both economy cars and luxury cars drops. c. The demand for fast food drops, but the demand for gourmet food rises. d. The demand for cheap concert seats rises, but the demand for expensive seats drops.
Refer to the above figure. Which panel represents the long-run supply curve for a constant cost industry?
A. Panel A B. Panel B C. Panel C D. Panel D
According to this Application, the policies used by the European Union to support the agricultural sectors of its member countries created excess supply. Excess supply can be generated if a government establishes a
A) price ceiling above the market equilibrium price. B) price ceiling below the market equilibrium price. C) price floor above the market equilibrium price. D) price floor below the market equilibrium price.
The tendency of people to value something more highly when they own it is called the
A) wealth effect. B) endowment effect. C) path dependent effect. D) endorsement effect.