The rate of inflation and the purchasing power of money are
A. randomly related.
B. totally unrelated.
C. positively related.
D. inversely related.
Answer: D
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Which of the following is a list of fixed inputs for a hospital?
A) bandages, casts, and other materials B) antibiotics, pain medication, and other prescription drugs C) the emergency room, intensive care unit, and other facilities D) the nurses, receptionists, and other employees E) the lobby, the doctors, and the electricity it uses
The equilibrium or market clearing price occurs at the point at which
A) quantity demanded equals quantity supplied. B) the supply curve intersects the horizontal axis. C) the demand curve intersects the vertical axis. D) there is a shortage of the desired good.
Which of the following is not necessary in order for a firm to engage in price discrimination?
a. The producer must face an inelastic demand curve. b. The producer must face a downward-sloping demand curve. c. There must be at least two identifiable classes of consumers with different price elasticities of demand. d. The producer must be able, at little cost, to distinguish between the different classes of buyers. e. It must be impossible for one buyer to resell to another.
Countries that have a trade surplus have a:
A. positive net capital outflow. B. positive net capital inflow. C. negative net capital outflow. D. positive foreign direct investment. AACSB: Reflective Thinking