The redistributive mechanics of inflation include all of the following except
A. Wealth effects.
B. Income effects.
C. Price effects.
D. Output effects.
Answer: D
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The Social Security program is ________ in that it redistributes income from ________
A) progressive; low earners to high earners B) regressive; low earners to high earners C) progressive; high earners to low earners D) regressive; high earners to low earners
By external balance, most economists mean
A) avoiding excessive imbalances in international payments. B) balance between exports and imports. C) balance between the trade and service accounts. D) what amounts to fixed exchange rates. E) imbalance in internal transactions.
Improvements in labor productivity
A) affect the level of wages, but do not affect the rate of economic growth. B) affect the level of profit, but do not affect the rate of economic growth. C) hinder economic growth, because they cause unemployment. D) contribute to economic growth.
The change in the quantity of aggregate output demanded depends on how much the aggregate expenditure line shifts, not on which spending component causes the shift
Indicate whether the statement is true or false