The efforts of individuals to protect themselves against losses as a result of inflation
A) are irrational because one person's loss as a result of inflation is someone else's gain.
B) can only succeed if everyone correctly anticipates the rate and timing of inflation.
C) cannot succeed because no private citizen has the ability to stop inflation.
D) use up valuable resources that could have been employed in other ways.
D
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In the short run, a rightward shift of the short-run aggregate supply curve ________ real GDP and ________ the price level
A) decreases; lowers B) increases; raises C) decreases; raises D) increases; lowers
Compared to a cost plus incentive fee contract, the cost plus percentage fee contract has strong incentives to minimize costs
a. True b. False
In situations where businesses who choose to discriminate because they are prejudiced are few in an industry, discrimination:
A. will be eliminated by the competitive market. B. will persist because customers will not give them patronage. C. will persist in an efficient market. D. None of these is true.
Other things being equal, as more firms enter a market, the market supply curve
A. Shifts to the right. B. Becomes more inelastic. C. Intersects the demand curve at a higher price. D. Shifts to the left.