Manuel is retired and receives a fixed payment from his pension each month. When there is inflation ________.
A. Manuel will be better off
B. the buying power of his pension will fall
C. the value of his pension will rise
D. will receive more money from his pension
Answer: B
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If a firm is producing at an output where the total revenue curve crosses the total cost curve,
a. revenue is maximized b. cost is maximized c. cost is minimized d. profit is maximized e. profit is zero
When a banking system provides people with immediate access to their deposits, but allows banks to loan out part of its reserves, it is known as the
a. excess reserve system b. excess demand deposit system c. fractional reserve system d. legal required reserve system e. multiple banking system
A decrease in the interest rate will ________.
A. have no effect on the quantity of money supplied in the economy B. increase the quantity supplied of money at an increasing rate C. decrease the quantity of money supplied in the economy D. increase the quantity of money supplied in the economy
Describe the lemons problem.
What will be an ideal response?