The term inflation is used to describe a(n):
a. rise in the value of money
b. decline in nominal income.
c. sustained increase in the price level.
d. general reduction in prices.
e. economic problem faced only by the elderly population.
c
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An economist would argue that global warming is
a. unquestionably a human-generated problem that should be stopped immediately at all costs. b. simply fear mongering, for there is no scientific evidence that the average temperature on earth is changing. c. likely to cause massive starvation as temperatures on earth rise, reducing agricultural productivity. d. a serious issue that may best be addressed primarily by making changes as problems occur in the future.
Critics of government frequently assert that special interest groups favor transfer policies rather than economic growth policies
Indicate whether the statement is true or false
The price of a coupon bond is determined by:
A. taking the present value of the coupon payments and adding this to the face value. B. taking the present value of all of the bond's payments. C. estimating its future value. D. taking the present value of the bond's final payment and subtracting the coupon payments.
In exhibit 9-2, the marginal propensity to save equals
What will be an ideal response?