Who stands to gain as a result of unanticipated inflation?
A) creditors
B) debtors
C) persons living on a fixed income
D) retired individuals
B
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If the price of $1 is 1.67 Swiss francs, the price of a Swiss franc is
A) $0.33. B) $1.67. C) $2.00. D) $0.67.
If the eyeglass industry is monopolistically competitive, then in the long-run: a. the price of eyeglasses will equal marginal revenue. b. the price of eyeglasses will exceed marginal cost. c. firms can earn economic profits
d. firms are price takers.
The World Trade Organization is called _______________ because it involves many, if not most, of the nations in the world.
a. a bilateral trade organization b. a trilateral trade organization c. a multilateral trade agreement d. a quasi-political trade organization
To be officially counted as unemployed, one must be
A. Not employed at a full-time job. B. Either not working or working only part-time. C. Actively seeking employment and currently not working. D. None of the choices are correct.