The social costs of hyperinflation include i) decreases in purchasing power ii) borrowing and lending may cease iii) the value of savings will diminish.
A. i only.
B. ii only.
C. i, ii, and iii only.
D. i and ii only.
Answer: B
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A common property is
a. both nonrivalrous and nonexcludable. b. nonrivalrous, but not nonexcludable. c. nonexcludable, but not nonrivalrous. d. either nonrivalrous or nonexcludable, but not both.
Which of the following is an example of government purchases?
A. The navy purchases a new ship for its fleet. B. Fred buys a new television set to watch the Super Bowl. C. Electric Car Incorporated increases the number of cars on its lots. D. The Black Coal Company sells $5 million of coal to Germany.
In the figure above, Gap's economic ________ is ________
A) loss; $8,000 B) loss; $13,000 C) profit; $7,200 D) profit; $13,000
Dumping can never be a profit maximizing strategy for a firm to follow
Indicate whether the statement is true or false