Retired individuals:
a. Are always harmed by inflation.
b. Are almost always helped by inflation.
c. Are helped by inflation when it is unexpected.
d. Are harmed by inflation when it is expected.
e. Could be helped by inflation if their spending patterns are not like the average consumer.
.E
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Which of the following is not a requirement for a successful price discrimination strategy?
A) The firm must be able to prevent arbitrage. B) A firm must have the ability to charge a price greater than marginal cost. C) Transactions costs must be the same for all consumers. D) Some consumers must have a greater willingness to pay for the product than other consumers, and the firm must be able to know what prices consumers are willing to pay.
A major U.S. motive for negotiating a free-trade agreement with Mexico was
a. to gain increased access to Mexico's huge oil reserves b. to achieve ultimately political union with Mexico c. as a stepping-stone to the formation of a free-trade bloc in the whole Western Hemisphere d. to appease Canada e. to appease GATT
In monopolistic competition, there are no brands, all the producers produce only identical, generic products
a. True b. False Indicate whether the statement is true or false
Some years ago New York City imposed rent controls in an effort to provide housing at "fair" prices for as many people as possible. The result was a serious shortage of housing and deterioration of existing rental properties. How would an economist have described the result in terms of economic efficiency?