Losers from inflation include:
A. those on a fixed income and savers.
B. landlords and the government.
C. borrowers and the government.
D. those on a fixed income and borrowers.
Answer: A
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Refer to the figure above. Suppose Starbucks charges $3.50 per cup for its latte. Which of the following is true?
i. At this price, the demand for Starbucks latte is inelastic. ii. If Starbucks raises the price of its latte, its revenue will increase. iii. If Starbucks lowers the price of its latte, it will increase its revenue. A) Only iii B) Only i C) Only ii D) i and ii E) i and iii
Producer surplus is the difference between the highest price someone is willing to pay and the price he actually pays
Indicate whether the statement is true or false
A criticism of the unemployment rate is that:
a. underemployment is measured in the calculation. b. the data includes part-time workers as fully employed. c. discouraged workers are included in the calculation. d. all of these are problems.
Structural stagnationists believe expansionary monetary policy in the early 2000s:
A. created far too much inflation. B. required contractionary fiscal policy. C. was entirely ineffective in affecting the economy. D. was channeled into asset prices.