Which of the following is true about inflation?
a. Inflation promotes social harmony by uniting people against the government.
b. Inflation is more damaging if it is anticipated.
c. Accurate anticipation of inflation is possible for everyone who is well informed about economic events.
d. Those who lend money at a rate below the rate of inflation suffer economic losses.
e. If people accurately anticipate inflation, their actions will prevent it.
d
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A major distinction between a monopolistically competitive firm and an oligopolistic firm is that
A. one is a price taker and the other is a price maker. B. one necessarily faces a downward-sloping demand curve and the other a horizontal demand curve. C. one always produces differentiated products and the other always produces a homogeneous product. D. a recognized interdependence exists between firms in one industry but not in the other.
A workers who is always honest with their cash drawer must be a good mother as well because she is "honest" and "honest" people raise good children. This thought process describes
a. discrimination b. trait management c. the halo effect d. laissez-faire
In the diagram, the range of diminishing marginal returns is:
A. 0Q 3 .
B. 0Q 2 .
C. Q 1 Q 2 .
D. Q 1 Q 3
An example of someone bearing the burden of a negative production externality would be
A) Taylor living downwind from a smelly feedlot where pigs are raised. B) Jess's roommate smokes and she doesn't. C) Lynna's neighbors play loud music late at night. D) All of these are examples of someone bearing the burden of a negative production externality. E) None of these is an example of someone bearing the burden of a negative production externality.