With high inflation ________
A) stock market investors are always worse off than consumers and households
B) producers are always worse off than consumers
C) creditors are always worse off than debtors
D) all of the above
E) none of the above
C
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A table which shows the quantities of a particular good or service that consumers are willing to purchase at various prices is known as a:
A. demand figure. B. demand schedule. C. demand curve. D. demand graph.
Define allocative efficiency. Explain the significance of this concept in economics?
What will be an ideal response?
The use of a price system eliminates:
A. scarcity. B. equilibrium. C. shortages and surpluses. D. changes in supply and demand.
If the Fed simultaneously raises the discount rate and the reserve requirement, the money supply will:
A. expand. B. contract. C. remain unchanged. D. take on a value that cannot be determined from the information given.