The existence of an inflationary gap would tend to benefit most
a. bankers.
b. retired persons.
c. unemployed workers.
d. stock owners.
c
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Regarding fiscal policy, the new classical economists
a. are in favor of stability. b. attempt to avoid excessive and inflationary stimulus. c. want to avoid erratic government deficit spending. d. All of the above e. None of the above
Arguably the most damaging economic consequence of inflation is:
A. high prices. B. the uncertainty it can create. C. the adjustment of sticky wages. D. the erosion of value of real assets.
A country that is running a current account deficit will have:
a. zero net exports. b. zero investments. c. negative net investments. d. positive net exports. e. negative net exports.
Heavily taxed items with inelastic short-run demand curves place most of the tax burden on ______.
a. sellers b. government c. society at large d. buyers