Inflation:
a. can cause a redistribution of income from creditors to borrowers
b. may discourage investment and economic growth.
c. can decrease the value of a nation's currency relative to other nations.
d. may result in any of the above.
d
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The supply curve for Japanese yen (in terms of U.S. dollars) is ________.
A. downward-sloping because a lower dollar price of yen means U.S. goods are cheaper to the Japanese B. downward-sloping because a higher dollar price of yen means U.S. goods are cheaper to the Japanese C. upward-sloping because a lower dollar price of yen means U.S. goods are cheaper to the Japanese D. upward-sloping because a higher dollar price of yen means U.S. goods are cheaper to the Japanese
Refer to the scenario above. A player should use ________ to play this game
A) forward induction B) backward induction C) mixed strategies D) his dominated strategy
Shadow prices:
A. are paid in terms of opportunity costs. B. are set by the government. C. exist only in black markets. D. are illegal.
Refer to the information provided in Figure 28.7 below to answer the question(s) that follow.
Figure 28.7Refer to Figure 28.7. Which combinations of events could move the economy from Point A to Point C, and then from Point C to Point D?
A. an expansionary fiscal policy followed by a rightward shift in the AS curve B. a contractionary fiscal policy followed by a leftward shift in the AS curve C. a contractionary fiscal policy followed by a rightward shift in the AS curve D. an expansionary fiscal policy followed by a leftward shift in the AS curve