If you were a borrower, which of the following unexpected changes in inflation would you prefer once you have taken out a long term fixed rate loan?
a. An increase from 2% inflation to 6% inflation.
b. An increase from 7% inflation to 10% inflation.
c. A decrease from 14% inflation to 8% inflation.
d. A decrease from 6% inflation to 3%.
a
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At the start of a cost-push inflation,
A) the price level rises and real GDP does not change. B) the price level remains constant and real GDP increases. C) the price level rises and real GDP decreases. D) the price level remains constant and real GDP decreases. E) the price level and real GDP both increase.
In 1860, the Republican Party formed a coalition of anti-slavery voters that elected Abraham Lincoln to the presidency. Members of this coalition included all of the following groups except:
a. Northwestern farmers. b. Irish and German immigrants. c. Producers who were economically linked by the Northern Gateway. d. Large property owners in New Mexico and Utah.
Diseconomies of scale cause the short-run marginal cost curve to slope upwards
a. True b. False Indicate whether the statement is true or false
At each point on the line of income equality, the percentage of total population and the percentage of total income are equal
a. True b. False Indicate whether the statement is true or false