When inflation is high and unexpected,
A) borrowers of money lose and lenders win.
B) borrowers of money win and lenders lose.
C) both borrowers and lenders of money win.
D) both borrowers and lenders of money lose.
B
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A temporary supply shock, such as an increase in oil prices, would
A) shift the IS curve down and to the left and leave the FE line unchanged. B) shift the IS curve down and to the left and shift the FE line to the left. C) shift the IS curve up and to the right, but leave the FE line unchanged. D) have no effect on the IS curve.
Which of the following is true of capital deepening?
a. It refers to an increase in the level of capital per worker in a society. b. It refers to an increase in the stock of capital in a society c. It occurs when there is a decrease in the cost of capital in a society. d. It occurs when society displaces human capital with physical capital.
The 1930s were a period of
a. strong economic expansion and rapid growth of real output. b. high rates of inflation coupled with a low rate of unemployment. c. depressed economic conditions and prolonged high rates of unemployment. d. strong growth of real output even though the general level of prices was declining.
Perhaps the biggest problem that is faced by those administering workfare programs is
A. that most of the people on welfare are not highly employable. B. too much money is allocated for education and training. C. that welfare recipients have no incentive to work. D. the states are not required to follow any guidelines in administering the program.