If inflation is completely anticipated,
A) lenders lose in the economy. B) borrowers lose in the economy.
C) firms lose because they incur menu costs. D) no one loses in the economy.
C
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In the 1990s the United States' economy generated more than _______ million additional jobs.
A. 5 B. 10 C. 15 D. 20
Perfectly competitive markets:
A. are more of an idealized model economists use than a real-life occurrence. B. are the most common type of market in the United States. C. tend to have relatively few buyers. D. tend to have relatively few sellers.
The slope of an isocost line is equal to:
A. -(wage rate/rental rate of capital). B. (wage rate/rental rate of capital). C. -(rental rate of capital/wage rate). D. (rental rate of capital/wage rate).
An increase in the demand for steel occurs. As a result, firms in the steel industry will
A. experience no change in their demand for capital. B. decrease their demand for capital. C. decrease both output and their demand for capital. D. increase their demand for capital.