Inflation ________
A) is more costly when it is anticipated than when it comes as a surprise
B) makes it more difficult to plan for the future, whether it is a surprise or not
C) induces distortions in the money and goods market but not the labor market
D) all of the above
E) none of the above
B
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The Keynesian portion of the short-run aggregate supply (SRAS) curve implies
A) a downward slope. B) no price level changes. C) flexible prices and wages. D) an upward slope.
Stampp (1976) finds evidence to suggest that the Southern slave owners were operating at losses, not profits
Indicate whether the statement is true or false
Which of the following does not explain the rise in income inequality in the United States from 1970 to 2011?
a. Changes in technology. b. An increase in minimum wages. c. A reduction in the demand for unskilled labor. d. Increased international trade with low-wage countries.
An example of mechanism design is
A. lower prices for airline ticket purchases made several months prior to the travel date. B. a non-profit charity that pays all employees a low fixed salary. C. health insurance with co-pays. D. welfare policy that has no limits on the amount of time a person can collect benefits.