In general, a higher-than-anticipated inflation rate
a. helps everyone
b. hurts everyone
c. helps creditors and harms debtors
d. helps debtors and harms creditors
e. helps sellers
D
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A backward-bending labor supply curve could possibly imply which of the following cases?
A) Leisure is an inferior good. B) Leisure is a normal good. C) Leisure is a normal good at low wages and inferior at high wages. D) None of the above.
The following depicts a normal-form game of price competition.Firm AFirm B??Low PriceHigh Price?Low Price0,025,-5?High Price-5,2510,10Suppose that firm A deviates from a trigger strategy to support a high price. What is the present value of A's payoff from cheating?
A. 20 B. 25 C. 5 D. 35
Suppose that the federal government had a budget deficit of $100 billion in year 1 and $90 billion in year 2, but that it experiences budget surpluses of $40 billion in year 3 and $30 billion in year 4. Also assume that the government uses any budget surpluses to pay down the public debt. At the end of these four years, the Federal government's public debt would have
A. decreased by $120 billion. B. increased by $120 billion. C. increased by $260 billion. D. decreased by $260 billion.
The fungibility of money means that
A. thinking large, one-time expenses should be paid off over a period of time, while everyday expenses should come out of your checking account, is irrational. B. people often create false distinctions between categories of debt. C. the categories people create to organize their expenditures are meaningless in financial terms. D. All of these statements are true.