In general _____ by unanticipated inflation.
A. Creditors and debtors are both helped
B. Creditors and debtors are both hurt
C. Creditors are helped and debtors are hurt
D. Creditors are hurt and debtors are helped
D. Creditors are hurt and debtors are helped
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If the demand for hand-sewn leather shoes increases, it is likely the demand for leather will:
A. also increase. B. decrease slightly. C. stay the same. D. drop significantly and producers will use another material.
An improvement in technology would shift which of the following curve(s)?
a. aggregate demand and short-run aggregate supply b. only the short-run aggregate supply c. only the aggregate demand d. short-run and long-run aggregate supply
If the firms in a competitive price-searcher market are earning zero economic profit, this indicates that the
a. market is not in long-run equilibrium. b. firms are earning the normal rate of return. c. firms are performing worse than the firms in other markets. d. firms are performing better than firms in other markets.
In economic terminology, an inferior good is a good
A) that no one will purchase. B) that doesn't work properly. C) that has no monetary value. D) for which demand increases as income decreases.