Social Security payments were:
A. not originally adjusted for inflation, causing the real value to retirees to increase over time.
B. not originally adjusted for inflation, causing the real value to retirees to decrease over time.
C. originally adjusted for inflation, causing the real value to retirees to increase over time.
D. originally adjusted for inflation, causing the real value to retirees to decrease over time.
B. not originally adjusted for inflation, causing the real value to retirees to decrease over time.
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The damage function method
a. is a behavioral linkage approach to measuring environmental benefits b. uses a technical relationship between an environmental resource and a user of that resource to estimate benefits c. uses the same technique as the contingent valuation approach d. is capable of measuring all aspects of incremental benefits simultaneously
According to the rational expectations hypothesis, an individual's assessment of future economic performance
A) considers both past performance and current monetary and fiscal policy. B) only considers past performance. C) does not consider the impact of inflation. D) does not consider past performance.
Which of the following is incorrect?
A. Floating exchange rates permit countries to have different inflation rates. B. Overall, floating exchange rates discipline countries to have low inflation rates. C. With fixed exchange rates, a country that prefers to have a lower inflation rate than its trading partners will tend to import inflation from its partners. D. Since 1973, high degrees of variability of floating exchange rates may have caused considerable adjustment into or out of trade-oriented production from time to time.
Unanticipated inflation arbitrarily:
A. "penalizes" those who borrow money. B. "taxes" those who receive fixed money incomes. C. "benefits" those who save money. D. "subsidizes" those who receive fixed money incomes.