Inflation burdens those individuals living on fixed incomes
Indicate whether the statement is true or false
True
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In the United States in the 1920s, there were many bank failures in ___ areas, as the result of ___
a. rural, high levels of indebtedness taken on in WWI b. rural, pro-urban Federal spending policies c. urban, lack of demand from the lower middle class for industrial products d. urban, pro-rural Federal spending policies
If the bidders at a first-price auction have true values of $8, $7, $6, and $5, the item will sell for
a. $8 b. $7 c. just over $7 d. just under $7
The creation of savings plans such as savings deposits and money market mutual accounts that allow easy transfer of funds between interest-earning assets and checkable deposits tends to
A) lower the cost of holding money. B) reduce the demand for money. C) increase the demand for money. D) increase the risk of holding money.
The strategy underlying price discrimination is to:
A. charge higher prices to customers who have better access to substitutes. B. charge everyone the same price but limit the quantity they are allowed to buy. C. increase total revenue by charging higher prices to those with the most inelastic demand for the product and lower prices to those with the most elastic demand. D. reduce per-unit costs by charging higher prices to those with the most elastic demand and lower prices to those with the most inelastic demand.