Borrowers who took out mortgages in the 1960s:
A. were harmed by the unexpected low inflation rates of the 1970s.
B. benefited from the unexpectedly high inflation rates of the 1970s.
C. were harmed by the unexpectedly high inflation rates of the 1970s.
D. benefited from the unexpected low inflation rates of the 1970s.
Ans: B. benefited from the unexpectedly high inflation rates of the 1970s.
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Which of the following reasons describes the fundamental barrier to entry for the monopoly in the figure?
A) monopoly resources B) government regulation C) the production process D) Both a and b are correct.
One reason the aggregate demand curve is downward sloping is because of the
A) interest rate effect. B) tariff effect. C) welfare effect. D) price effect.
Is the EU an optimum currency area? Why or why not?
What will be an ideal response?
Refer to the data provided in Table 9.2 below to answer the question(s) that follow.
Table 9.2
Refer to Table 9.2. If the market price is $17 and the firm produces 4 units of output, then its profit would be
A. -$50. B. -$44. C. $0. D. $18.