Inflation often bestows unearned income on
a. homeowners.
b. lenders.
c. creditors.
d. fixed income receivers.
a
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When the bandwagon effect exists, a change in price is likely to
A) change total revenue less than if there were no network externalities. B) change total revenue more than if there were no network externalities. C) change total revenue the same amount as if there were no network externalities. D) not change total revenue at all.
A movement along a consumption function is caused by:
a. a change in households' real assets. b. a change in interest rates. c. changes in taxation policy. d. expectations of price changes. e. changes in households' disposable incomes.
Read the following two sentences: A: As the conductor approached the podium, all the orchestra members stood to show respect. B: As the man stood to get a better view of the concert, all the other people in the audience also stood, blocking his view. Which of the following is the correct comparison of A and B?
a. A and B both show causation. b. A shows the fallacy of composition; B shows causation. c. A and B both show the fallacy of composition. d. A shows causation; B shows the fallacy of composition
The late-1960s era Johnson 10% tax surcharge designed to curb inflation is an example of
A. monetary policy. B. discretionary (and expansionary) fiscal policy. C. discretionary (and contractionary) fiscal policy. D. nondiscretionary fiscal policy.