If the inflation rate turns out to be less than was expected to be, the clear losers are
A. businesses.
B. lenders.
C. people on incomes adjusted by a COLA.
D. borrowers.
Answer: B
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Hughes and Cain (2011) give some credit to which of the following factors for the 1860–1910 increase in the number of people employed, shorter work days and higher real incomes?
(a) A decrease in the number of immigrants (b) A closed economy with no imports coming into or exports going out of the U.S. (c) Mechanical power and capital accumulation (d) All of the above
Figure 2-9
Which of the following statements could explain the concave shape of the production possibilities curve in ?
a.
The publishing industry develops improved printing presses.
b.
Productive efficiency increases as the publishing industry moves from point F to point H
c.
More editors and writers are employed as the publishing industry moves from point F to point H.
d.
Some writers are better suited to writing novels; some are better suited to writing textbooks.
e.
The prices of paper and ink fall as the publishing industry moves from point H to point F.
Total revenue minus total cost equals:
a) Marginal revenue. b) Variable costs. c) Profit. d) Economic costs.
Initially, workers in the shoe industry and the computer industry earn the same wage. Reductions in trade barriers give domestic consumers access to cheaper shoes produced abroad, which causes domestic shoe prices fall. At the same time, foreign consumers purchase more computers, raising the relative price of computers. As a result of these changes, the demand for labor in the shoe industry ________ and the demand for labor in the computer industry ________.
A. decreases; increases B. increases; increases C. increases; decreases D. decreases; decreases