Inflation
a. hurts society by imposing additional opportunity costs
b. is generally harmful, but has the benefit of reducing opportunity costs
c. makes it easier for us to comparison shop
d. benefits society by causing people to make use of resources that would have otherwise gone to waste
e. benefits society because by making people better consumers, they start to buy only those consumer goods they really need
A
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The social rate of discount is best approximated by:
a. the cost of government borrowing b. the opportunity cost of resources taken from the private sector c. 3 percent d. 30 percent e. none of the above
The aggregate demand curve shifts rightward if there is...
a) an increase in tax rates b) a decreases in government expenditure c) an increase in the federal budget surplus d) an increase in government expenditure