If actual inflation is lower than expected inflation,
A) there is a redistribution of wealth from borrowers to lenders.
B) there is a redistribution of wealth from lenders to borrowers.
C) there is no redistribution of wealth, but the total wealth in the economy increases.
D) there is no redistribution of wealth, but the total wealth in the economy decreases.
A
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If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's AVC equal to
a. $5 b. $10 c. $50 d. $100
Governments can affect the level of aggregate demand in a direct way by changing
a. government spending. b. exports. c. taxes. d. transfer payments.
In the 1990s the United States' economy generated more than _______ million additional jobs.
A. 5 B. 10 C. 15 D. 20
If the government imposes a maximum price that is above the equilibrium price,
A. quantity demanded will be less than quantity supplied. B. demand will be greater than supply. C. this maximum price will have no economic impact. D. the available supply will have to be rationed with a non-price rationing mechanism.