High inflation can do which of the following?
A) increase shoeleather costs
B) distort consumption choices
C) arbitrarily redistribute income
D) all of the above
D
You might also like to view...
? PriceQuantity Demanded Quantity Supplied $101,000 5,500 92,0005,00083,0004,50074,0004,00065,0003,50056,0003,00047,0002,50038,0002,00029,0001,500110,0001,000? Refer to Table 4-1. What is the equilibrium price in the example above?
A. $9 B. $8 C. $7 D. $6 E. $5
In the problem of double marginalization, the resulting price is ______than if the manufacturer were to sell directly to the consumer
a. Higher b. Lower c. The same d. None of the above
If you can't prevent people from consuming something, then:
A. they have little reason to pay for using it. B. the good is not excludable. C. individuals will likely use it for free. D. All of these statements are true.
Suppose a quota on foreign-made automobiles is proposed in Congress. Which of the following groups is most likely to oppose the bill?
A. American Automobiles Manufacturers B. consumers C. American Steel Workers D. United Auto Workers