Robert Shiller posed the following question to workers: "Imagine that next year the inflation rate unexpectedly doubles
How long would it probably take, in these times, before your income is increased enough so that you can afford the same things as you do today?" Shiller found that ________ percent of the workers he interviewed reported that it would take several years to restore the purchasing power of their wages or that this power would never be restored.
A) 25 B) 42 C) 64 D) 81
D
You might also like to view...
If personal income minus transfer payments is rising, real GDP is most likely
A) rising. B) falling. C) remaining stable. D) getting ready to fall.
The more risk averse people are, the ________ likely they will purchase insurance, and the ________ money they are willing to pay for the insurance.
A) more; more B) less; more C) less; less D) more; less
If expansion of an industry's output causes a downward shift of firms' average total cost curves,
a. each firm earns a long-run economic profit b. all of the following are correct c. there will be long-run economic profits d. it is a decreasing-cost industry e. it is an increasing-cost industry
Which of the following statements is true?
A) Only government policymakers can improve decision making by using economic principles. B) Only government policymakers and business managers can improve decision making by using economic principles. C) Only business managers and individuals can improve decision making by using economic principles. D) Government policymakers, business managers, and individuals can all improve decision making by using economic principles.