__________ inflation will tend to hurt those whose money received, in terms of wages and interest payments, does not rise with inflation.
a. Unexpected
b. Expected
c. Flat
d. Reduced
a. Unexpected
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Logan finds $10 in his jacket pocket and deposits it into a bank. As a result of this single transaction, M1 has
A) increased by more than $10. B) increased by $10. C) not changed. D) increased by less than $10.
Which theory of economic growth concludes that in the long run real GDP per person will be at its subsistence level?
A) the classical theory B) the neoclassical theory C) the new growth theory D) all of the theories
If the area between the line of equality and the Lorenz curve is 1,250, and the entire area beneath the line of equality is 5,000, the Gini ratio is
A) 0.25. B) 4.00. C) 0.33. D) 0.80.
Suppose that Microsoft and Google compete in the market for PC Internet browsers. Initially these firms compete as Cournot duopolies with symmetric reaction functions. If Microsoft enters into exclusive contracts with PC suppliers that preclude suppliers from loading Google's Internet browser on PCs loaded with the Windows operating system, then Google's marginal cost of distributing its browser will increase to $5 per unit.The new equilibrium would entail Microsoft supplying ________ browsers and Google supplying ________ browsers to the market. The end result is ________ profits for Google.
A. fewer; more; higher B. more; more; lower C. fewer; fewer; higher D. more; fewer; lower