A program to reduce inflation is likely to have lower costs if the sacrifice ratio is
a. high and the reduction is unexpected.
b. high and the reduction is expected.
c. low and the reduction is unexpected.
d. low and the reduction is expected.
d
You might also like to view...
Perfectly inelastic demand curves are vertical.
Answer the following statement true (T) or false (F)
The free-rider problem arises if goods are
A. nonrivalrous in consumption. B. rivalrous in consumption. C. nonexcludable. D. excludable. E. a and d
Suppose you read in the paper that the Federal Reserve plans to expand the money supply. The Fed is most likely to do this by
A) printing more currency and distributing it. B) purchasing government bonds from the public. C) selling government bonds to the public. D) buying newly issued government bonds directly from the government itself.
Broadly speaking, Social Security redistributes incomes from high-to low-income individuals, from men to women, and from young to old.
A. True B. False C. Uncertain