When unanticipated deflation occurs:
A. Both creditors and debtors benefit
B. Both creditors and debtors are hurt
C. Debtors are hurt, but creditors benefit
D. Creditors are hurt, but debtors benefit
C. Debtors are hurt, but creditors benefit
Economics
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Suppose the market for grass seed is expressed as
Demand: QD = 100 - 2p Supply: QS = 3p Price elasticity of supply is constant at 1. If the supply curve is changed to Q = 8p, price elasticity of supply is still constant at 1. Yet, with the new supply curve, consumers pay a larger share of a specific tax. Why?
Economics
The American Federation of State, County, Government and Municipal Employees is an example of a(n)
A) guild. B) craft union. C) industrial union. D) public-sector union.
Economics