The inflation rate in a particular country changed from 4 percent to 8 percent during two subsequent quarters of the same year. As a result, retail outlets had to reprint new sticker prices for their products. This additional cost borne by the retailers because of the inflation is an example of a:
a. menu cost
b. shoe-leather cost.
c. unit-of-account cost.
d. time cost.
a
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Before they can be used in regular exchanges, the assets that make up M2 must often
A) be paid off if they are credit cards. B) be converted to M1 assets. C) have their interest computed. D) have reached term if they are insurance policies.
Which of the following is not a form of capital?
a. loanable funds b. John Deere farm machinery c. sourdough used to make bread d. sourdough bread on your Thanksgiving dinner table e. sourdough bread used to make a tuna sandwich at Timpone's restaurant
If the price of Italian shoes imported into the United States increases, then
a. both the GDP deflator and the consumer price index will increase. b. neither the GDP deflator nor the consumer price index will increase. c. the GDP deflator will increase, but the consumer price index will not increase. d. the consumer price index will increase, but the GDP deflator will not increase.
Explain the pattern seen between GDP per person and quality of life measures such as life expectancy, literacy, and Internet usage