Which of the following is true about inflation?
a. Inflation is favored by the poor because they have less money.
b. Inflation is more damaging if it is anticipated.
c. Inflation is more damaging to the poor because they have less money.
d. Those who lend money at a rate below the rate of inflation suffer economic losses.
e. If people can accurately anticipate inflation, no one gains or loses from it.
D
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Joe has $50, which he spends on movies and pizza. If the price of a pizza falls, Joe can
A) consume more of both goods. B) consume more pizza only if he gives up some movies. C) consume more movies only if he gives up some pizza. D) consume more pizza only.
The balance of payments is:
a. the difference between the dollar value of exports and the dollar value of imports. b. the same as the merchandise account. c. a summary statement of all international trade transactions of one country with the rest of the world. d. a summary statement of all domestic exchanges of goods and services between producers and buyers. e. a record of the amount of U.S. dollars held abroad.
Other things remaining the same, the quantity of a good or service demanded will increase if the price of the good or service Question 16 options:
A. rises or falls. B. does not change. C. falls. D. rises.
When you tell your mother, "I'll never be tired of your cooking," you are saying the
A. total utility of her cooking to you is equal to 1. B. total utility of her cooking to you is constant. C. marginal utility of her cooking to you is 0. D. marginal utility of her cooking to you will never be 0.