Unanticipated inflation:
A. reduces the real burden of the public debt to the federal government.
B. hurts borrowers and helps lenders.
C. hurts people whose sole source of income is from Social Security benefits.
D. helps savers.
A. reduces the real burden of the public debt to the federal government.
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Insecure property rights induce owners of productive assets to
A) discount expected income from their ownership at a very low rate. B) place a higher value on those assets if they want to sell them. C) use those assets more cautiously to reduce depreciation. D) do all of the above. E) do none of the above.
In understanding the differences of the impact of globalization on inflation in various nations it is important to consider
A) the degree of development in a nation. B) the structure of income taxes in the country. C) the degree of central bank independence. D) all of the above.
When analyzing cooperative fixed exchange rate agreements, there are two forms of cooperation:
A) decentralized and center-oriented. B) agreement over interest rates and agreement over exchange rates. C) compromise and democratic methodology. D) idiosyncratic and rules-based.
For a monopolist, marginal revenue ________ for all units of output except the first unit.
A. is greater than the price of output B. is less than the price of output C. is equal to the price of output D. may be either greater than or less than the price of output