Who stands to gain as a result of unanticipated inflation?
A. debtors
B. persons living on a fixed income
C. retired individuals
D. creditors
Answer: A
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
A commercial bank's main goal is to
A) provide loans to its customers. B) maximize the wealth of its stockholders. C) lend money to the Federal Reserve Banks. D) open checking accounts. E) help the government when it needs money.
If the United States receives $200 billion of foreign investment and at the same time invests a total of $160 billion abroad, then the U.S
A) balance of payments must be negative. B) current account must be in surplus. C) official settlements account balance increases by $40 billion. D) capital and financial account balance decreases by $40 billion. E) capital and financial account balance increases by $40 billion.
The formal definition of price elasticity of demand is
A) change in quantity demanded divided by change in price. B) quantity demanded divided by price. C) percentage change in quantity demanded divided by percentage change in price. D) quantity demanded multiplied by price and divided by 100.