If both the lender and borrower agree on an 8 percent interest rate, both expect a 4 percent inflation rate, and inflation turns out to be 4 percent, then ________ by the inflation.
A. the borrower gains and the lender is hurt
B. both the borrower and lender are hurt
C. neither the borrower nor the lender are hurt
D. the borrower is hurt and the lender gains
Answer: C
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When determining whether a family's income is below the official poverty rate, non-cash benefits from the government, such as food stamps, housing and medical benefits, are also included
a. True b. False Indicate whether the statement is true or false
Real investment spending is ____ real personal consumption
a. equal to b. greater than c. stable compared to d. highly volatile compared to
What is the difference between economic growth and economic development?
A. Economic growth examines qualitative changes in the processes by which potential output increases over time, whereas economic development examines how a country moves from one point on its production possibility curve to another point on the curve. B. Economic growth implies qualitative changes in productive processes whereas economic development requires quantitative change in virtually every aspect of life. C. Economic growth implies quantitative changes in productive processes whereas economic development requires widespread structural changes in the way people live. D. There is no difference between the two terms.
In the United States today, economists estimate that the natural rate of unemployment is between ________ and ________ percent.
A. 3; 5.5 B. 3; 4 C. 5; 6.5 D. 6.5; 7.5