Unanticipated inflation benefits
A) people or businesses who owe funds.
B) people or businesses who lend funds.
C) people who live on a fixed income.
D) people with CDs (certificates of deposits) in the bank.
A
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A price ceiling imposed by the government:
A) can create situations of excess demand. B) is a tax that increases the market price of a good. C) involves pricing a commodity above the market price. D) helps in establishing equilibrium in case of shortage or surplus.
Which of the following would NOT be a sign that China wants to become a high technology producer?
A) More patents are being sought and granted in China B) Large spending on infrastructure C) Rapid expansion of science, engineering and research D) Less emphasis on education spending
The recent growth records of Japan and Hong Kong during the last 50 years indicate that a nation can grow rapidly without:
a. securely defined property rights. b. adopting modern technology. c. significant capital formation. d. abundant domestic natural resources.
A progressive tax is one for which the percentage of each added dollar of income paid in taxes
a. increases as income increases. b. remains the same as income increases. c. decreases as income increases. d. is zero after a certain maximum income is reached.