Which of the following about inflation is true?
a. Anticipated inflation is an increase in the price level that comes as a surprise, at least to most individuals.
b. Unanticipated inflation is a change in the price level that is widely expected.
c. Decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy.
d. Inflation will increase the prices of goods and services that households purchase but not the wage rates of workers.
C
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A cost not borne by the producer but borne by other people is known as ________ cost
A) a marginal B) an internal C) an external D) a nonessential E) a subsidized
During which of the following periods was growth in GDP per capita the strongest?
A) prior to 500 A.D. B) 500 A.D. to 1800 A.D. C) 1800-1900 A.D. D) 1900-2000 A.D.
What are the five most important variables that cause the market demand curve for labor to shift?
What will be an ideal response?
The total demand for a public good is found by
A) horizontally summing all individual demands. B) vertically summing all individual demands. C) finding the demand from the median voter. D) dividing the marginal cost of the good by the number of voters.