Unanticipated inflation benefits debtors at the expense of creditors.
Answer the following statement true (T) or false (F)
True
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The condition of fully flexible wages and prices was assumed by
A) no economists. B) the classical economists. C) modern economists. D) the Keynesian economists.
The policies of the U.S. Federal Reserve probably helped to cause ________
A) the long contraction of the 1870s B) the severe recession of the 1890s C) the recession in 1918-1919 D) all of the above E) none of the above
Changes in relative prices usually lead to increases in real income because prices have changed
a. True b. False Indicate whether the statement is true or false
Which is the best example of price discrimination?
A. An airline company charging lower fares per pound for air freight than for passengers B. A telephone company charging lower rates to weekend users than weekday users C. A supermarket charging lower prices in its city stores than its out-of-the-way rural store D. A private doctor charging higher fees to patients receiving special services than patients receiving regular services