Who benefits from rising inflation?
A) those who already have fixed-rate loans
B) those considering taking out a loan
C) lenders that already made loans
D) lenders considering whether to make new loans
A
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Of the following, who is permitted to purchase property in California without court approval?
a. Convicts b. Minors c. Incompetents d. Foreign persons (aliens)
Producing goods can add to net wealth, but rendering services cannot. Explain.
What will be an ideal response?
Assume that the world price of Commodity X is $9 per unit while its domestic price is $8, and the marginal cost of production is $6 per unit. If the government imposes a price ceiling of $7 on domestic output:
a. the import of Commodity X from the world market would stop. b. the world price of Commodity X would decline. c. a surplus of Commodity X would accumulate in the domestic market. d. a shortage of Commodity X would be observed in the domestic market.
Macroeconomists define consumption as
A) purchases by the business sector. B) wearing away and breakdown of capital goods. C) the difference between imports and exports. D) purchases by the household sector.