Inflation makes certain things less valuable in real terms, including:
A. anything expressed in dollars.
B. your full college scholarship.
C. a fixed monthly pension payment.
D. real estate and precious metals.
Answer: A. anything expressed in dollars.
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A continuing, long-term, large decline in the demand for coffee will not cause the price of coffee to fall much over the years if
A) coffee is not scarce. B) the demand for coffee is highly elastic. C) the demand for coffee is highly inelastic. D) the supply of coffee is highly elastic. E) the supply of coffee is highly inelastic.
Regarding the production of health care, more recent studies suggest that:
A) economies of scale exist up to a hospital size of approximately 500 beds. B) hospitals of many different sizes can compete effectively with each other on the basis of cost. C) the LRAC curve exhibits significant diseconomies of scale beginning with a hospital size of approximately 100 beds. D) the LRAC for hospitals exhibits a very distinct U shape.
A __________ may agree to waive a restrictive covenant, especially if doing so appears to make the loan __________
A) borrower; no riskier B) borrower; riskier C) lender; no riskier D) lender; riskier
The value of tires purchased by a company to use on its cars is not included when calculating the gross domestic product (GDP)
a. True b. False Indicate whether the statement is true or false