During hyperinflations
A) the value of money rises rapidly.
B) money no longer functions as a good store of value and people may resort to barter transactions on a much larger scale.
C) middle-class savers benefit as prices rise.
D) money's value remains fixed to the price level; that is, if prices double so does the value of money.
B
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The United States economy has experienced a decrease in competition over the last three decades
a. True b. False
A merit goods is
a. a public good provided by government that people deem necessary and important b. a good that the market does not produce in quantities and at prices that governmentbelieves is warranted c. the highest quality of a public good that government produces d. a public good produced in the most efficient way e. a civilian public good as opposed to a national security good produced bygovernment
A particular cable TV company requires a household to subscribe to its high-speed Internet service if it subscribes to cable TV, and vice versa. This practice
a. is referred to as tying. b. is regarded by some economists as a form of price discrimination. c. is controversial among economists because they disagree on whether it has adverse effects for society as a whole. d. All of the above are correct.
Related to the Economics in Practice on p. 673: The French economy would most likely have to pay higher prices for candles if the candle makers in the petition
A. were not granted any protection for their industry. B. had a comparative advantage in producing candles. C. were able to gain protection for their industry. D. were allowed to export their product.